One of our observations is how much easier it is to exit the rat race from a low salary profession like janitor as opposed to the high salary positions like pilot or lawyer.

@Douglas Skipworth  @James Wachob  @Ben RobertsThough I don't know enough about NY to compare Memphis neighborhoods to Brooklyn or the Bronx, I can make a couple observations as a lifelong resident of Memphis:There are a number of massive reinvestment projects going on in the downtown and midtown areas of Memphis.

Have you observed lien stripping when there is sufficient equity?

I attended the auction as an observer and have to say I'm even more curious than before today.

My observation of studying The MLS of the last four years that literally every property, even properties that I thought were priced too high, not worth the money, ended up selling at near or close, to their listing price.Now it may have taken four months five months six months, but the property did eventually sell.

@Thomas DiMeoI have lived in the Ironbound for the last 4 years and the following are my thoughts , observations and opinions.1.  

If your neighbors are not calling the police on your tenants and you're not observing any abnormal damage, let her stay.

Most of them couldn't care less about your success, either.It sounds harsh and kind of gloomy but it's what I've observed in the past few years.Never trust that paperwork will be transferred correctly, never trust that your servicer will make the call, never trust that your attorney will have your foreclosure published, never trust that your contractor is going to do their job, never trust that the county is going to account for your payment right.

I have been there several times as a guest and observed as a vacation place and have never observed it as an investor.  

I think the forums are much better served by concrete questions/observations that allow users to share their specific insights and experiences.