The numbers no longer look nearly as good on these investments (now more like speculation) and I will now be forced to get my deposit back or accept this new price.

We have a property management company in New Jersey where we make some of our best clients hundreds of thousands of dollars between helping them force appreciation, increase cash flow, finding them deals etc.

For me, I am a little hesitant because I would be in a situation where I would be trying to secure traditional lending (which should be very feasible given credit scores & what $$ amount I am pre-approved up to from my banks), meaning that I assume I would be forced into using my first-time homebuyer loan incentives.

Shortly after the crash my tenants learned that condo developers were renting out luxury apartments in the area for around the same rents I was charging so I was forced to lower rents. 1200/apt 2 1050/apt3. 

It was great to get our heads in the game, and got us to move quicker to get a house (since we were basically forced to get a pre-approved loan in order to tour houses...).

If you are very conservative purchase a fixer upper so you can force equity and hopefully have a low enough payment so that you can LTR the property or even sell for profit should the STR avenue not work. 

Red-Necks on UTV's were a disaster relief force to the effect of about 100,000x what the "command & Control" capacity of Big Government was. 

Because you are forcing equity into the house you are sometimes able to pull back out the entire purchase and rehab process to return to your investor then you own the home with just the mortgage.

I invest in Boise, ID and do quite a few BRRRRs, LTRs and STRs- varying degrees of success depending on how much equity we can force and the type of back end financing we can find, but the tax benefits are great and it's a rapidly growing market and Idaho is probably the most landlord friendly state in the nation. 

If your property manager is not listed as an additional insured, they may not be covered under your policy in the event of an incident on your property, leaving both of you potentially exposed to liability.It can save you money.If your property manager is not added to your insurance policy as an additional insured, they may be forced to purchase their insurance policy to protect themselves.