The last 7 years has seen really solid lending with tough underwriting, stronger appraisals, larger down payments, and low fixed rates that are fully amortizing (that automatically create equity for owners).  

The country survived the industrial revolution and came out stronger than before.If big government got out of the way and allowed the free market capitalist system to prevail and work, and remove regulations for people to prosper in liberty, the country could change course, however capitalism is under constant attack.

Furthermore the gross rents in comparison to the mortgage are typically much stronger and when you exit that property it will make it much easier to obtain financing on another property.

Pre-approvals are important as a pre-approval letter- Gives you a stronger offer- Shows that you are serious and qualified for a mortgage to purchase the property of interest- A pre-approval will also tell you how much you qualify for so you are looking in the right price range- It will also help speed up the buying process once you found a house.

Not just musty dog smell but a stronger one, like urine.  

@Jason Miller  I think liquidity or the ability to liquidate one's holdings when one would need to is very important.. and one of the major benefits of stronger resale markets..

If it costs you more, that's part of doing business and you'll hopefully learn to screen better and create stronger policies and procedures to handle problem tenants in the future.

I want to make the best decision right now for longevity, so that in the future our family can be in a stronger position via real estate. 

They simply are more muscular and have a stronger bite, but I guarantee you ANY dog bite over 20 pounds is going to hurt and do damage.

Work harder longer and stronger to maintain this golden spot on the SERPs!