If you don't have a good foundation(bad debt paid off, $$ saved up) I would first focus on that.

And there was a hole in the siding on the outside of the house where it was treated from

2) "asking me not to post anything negative (which I’m clearly not doing)" - How is this entire post NOT making them look bad? 

If you could stomach the negative cashflow or get creative holding is not bad.

So, 100 year old workforce housing on small lots in modest neighborhoods, but once you get used to the small lots its actually not bad at all.  

It sounds like folks in this thread got bad deals and are blaming commercial loans instead of the lender who overcharged them.

They are great deals in markets like this, but if you get in a bad neighborhood, you can loose a lot. 

Still holding pretty strong, sellers just feel bad if they missed the peak, but overall demand is still there!

It doesn't mean new builds are bad it's a long term game.

Once you read the explanation below, you will understand how REALLY bad things can be if you don't get the letters but go through with the purchase.First, the owner/seller should have a clause in the lease requiring tenants to sign (or object to in writing) tenant estoppel letters if presented to them.