I ended up getting downsized and used the 8 month layoff notice to create a replacement income.

No layoffs, plant closings.

My feet on the street B of A loan guys are all starting to worry about 2012... does this just mean that they are going to do massive layoffs or is there a possibility that B of A could completely shut down it's mortgage lending unit?

Brian it just depends on the tenants.I do small increases but not too large.If the tenant has lived their awhile I have to weigh going up 20 bucks a month for 240 extra a year versus them moving,losing a months worth of rent (840) and then putting about 1,000 or more in new carpet paint and repairs.So at 240 extra a year it would take me about 9 years to recoup that money on the unit.It also depends on if you plan holding it that long or not.In my area tenants are barely getting by and lay-offs are happening every month to some.I think right now at least for my area isn't the time to push rent increases strong.I know what you are saying about landlords not increasing the rent for years and years.Some just want full and not deal with the headache anymore.They would rather have full and paying than charge higher rates and have more turnover and struggling from the tenants and more accounting to keep up with at multiple payments per month to pay the total rent.I believe as long as you are close to market rent but under by just a little you are not losing that much.It also depends on how cheap you bought the property.Some buy really cheap and cash flow like a monster because they purchased so low even though below market rents.

Good luck with your layoffs, all right?

He has also done most of the maintenance on it.At 50 he realized he has little in the way of retirement & needs rental income to ensure he can in fact retire & get through the winter layoffs.

Whether to add new employees or layoff current ones is not a simple metric of sales are up or sales are down.

Hard to develop plan with no history and low income due to company lay off.

And lay off the beer Lito!!

No worries, the plan is full of nothing.It just makes Barney Frank feel like Robin Hood a little longer.