For anyone visiting this topic recently, please disregard my earlier comments.VE and their PM service, VPS, have gone through substantial changes as the Indianapolis market has continued to rebound and I can no longer recommend them.  

I can buy at steep discounts well below the cost to build in markets that are popular areas to live and where the population is growing not shrinking, where the job market, although hit, will rebound.

If oil rebounds, and the Texas Central Railway is built, I'd expect massive growth over the next ten years.

Once I have some things more established, my hope in a few years is to gobble up a deal or 2 in Charleston in hopes the school rebounds with the next Governor likely being a Democrat and education funding and state government spending will go back to it's previous sky high levels.

The convention business is starting to rebound.

I once had former tenants move out of one of my rentals due to financial situation, only to have them rebound back on their feet and call me asking if they had anything.I was in process of buying a 2 family and the 1st floor 2 bedroom unit fit their needs to a T.

The market in general, has always rebounded and experienced a net increase from a loss, even in little time.

This year we've had a lot of tenant turnover, and are re-renting a lot of units to new tenants for 15% more because of how the rental market has rebounded.

These are some of the nightmares that run through my mind, but it's good to know you rebounded and things worked out for you!

HOAs can be mismanaged so there are risks going forward.Condos can be a great place to live if you are busy doing other things, like taking care of rentals.If our market rebounds as it looks like it is it could be a good candidate for appreciation.