its alot easier to find a lot that a flip right now but I may be locking down a 2 bedroom in Wyoming this week if you are interested.  

Thanks for all the replies,  I think my plans for this property are still in line with my goals and I will play it by ear as the time comes

If you can and you can lock in a lengthy lease, and the numbers are great, I would.

So to me it seems like owner had it rented in 2014, he's no where to be found...property has been seized and taken from bank maintenance company.I called the bank after purchasing the property and they said since i'm not the owner they can't give me a code to open the property and said 3rd party purchaser are responsible to taking possession on their own.I called my lawyer and he said I should go ahead and get the locks changed.

One reason I don't predict a major crash again well a few.. and why I think fence sitters may get a sore butt.is that so many of the NEW crop of landlords are better prepared than pre 08  they have more money into the deals they are far more educated.. the turn key business is far more mature and reliable than pre 08... so that helps those markets. financing has been locked in at historic lows 5 % and under long term money is ridiculously good.. also this crop of landlords had the best buying seasons ever coming out of 08 to 2011.. so asset values were reset to under replacement values and under by a long shot in some markets.. 

Keep the doors locked, the property well lit and don't leave any valuables exposed.

Search didn’t really give me any clear answers.I understand the LLC is for protection and not taxes but if you are on the LLC you are locked in to be taxed.

Second, and perhaps most importantly, it's land-locked behind another property, so I don't even know if any buyers would even have access.

To protect my own liability, I’ve locked the basement with a keypad you can change the password on, so I could provide a code and reset it next time I go there.

If you would want to borrow $5000 to redo your flooring and lock that in at the 3.99%, it is rather a waste and does not take advantage of the deal.