With any luck, this will be a permanent solution, unless the pipe collapses. 

We had to put in some expected repairs (electrical/plumbing) as well as very unexpected repairs (sewer line collapse/back up, emergency bathroom repairs including a new toilet/floor and subfloor/new fridge/new water heaterI think we spent 20k + that first year!

Do we still think prices come down next year due to economic collapse?

Isn't it ironic how the one time borrowers got a 'leg up' in the form ridiculously low interest rate mortgages that those same 'assets' are partially what is behind the collapse of several significant US banks and beyond? 

Housing collapse, did you not read the above?

If that floor collapses you want to be covered.  

There was an interesting broadcast yesterday on flipping and pointed to buy and holders who worked with a negative cash flow as being a larger part of the housing collapse then previously thought.

Assuming you're not worried about a market collapse, it's as close to a risk-free way for you to learn how passive out-of-state investing is (or isn't).  

Purchase price: $4,000 Cash invested: $30,000 Purchased house with foundation wall collapsed.

In case a of a market collapse?