We may even be headed down a little.

Ideally i would be looking for a small multi family (2-4 unit) or a SFH that i can put some sweat equity into and hold for the long term.I will be heading down September 5th-9th to take a small tour of the areas that I believe I'm interested in.

Now, is a great time to be heading to the real estate networking events, as some people are doing really cool things you could be implementing in your own business.

If the economy goes south (which it might be heading that way) people downsize to lower valued homes.  

We actually just found out we will be heading to Huntsville, AL.

Or is the landlord making the money and you may be headed toward bankruptcy?

Sounds like we may be heading in a similar direction - always better to travel together in my experience! 

If this guy might be heading to a nursing home, stay away from a life estate, convoluted deal, his home is exempt when attempting to qualify for state medical benefits to pay his nursing home bill, you could end up getting him kicked to the curb later on.Loan him the money to pay the taxes or just pay them as he will owe you the tax bill.

Now, I could be completely wrong, we may or may not be headed for a bear market and this bull market could continually for quite a while (although I doubt indefinitely). 

While you may not make the most out of current rehabs with declining prices, the market would be headed straight towards where you want it - a time when others are running away and prices are low being primed for a rebound.