(If you would like to track market expectations of rate changes, the FedWatch tool from the CME Group is extremely useful.)However, yields and mortgage rates can be greatly changed by Federal Reserve actions—the real drivers are the policy press releases and press conferences (typically scheduled for the early afternoon, a couple of hours after the publication of the decision).

Also, it's extremely unlikely that the occupants are caught up on their bills because their house was just foreclosed on.

I know these are extremes but those of us that have been in the business for some time all have our own stories to tell.Best of luck 

@Timothy Rogers I just read all of your advice and you made things extremely clear.

I couldn't imagine managing a property from out of state unless you had an extremely strong team of people in your market to help with showings, inspections, repairs, etc.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

The demographic trends are proving extremely strong. 

I've been extremely fortunate that so far, my partnerships (from most of 18 members to the least at 2) have worked out.

The inspection companies that we use are extremely detail-oriented and we use that information to renegotiate contracts or to determine it's not going to be a good deal.