It is sad how many new investors get taken for a ride and lose that fee on top of their earnest money.

Except for some of the kids that ride bikes there to party at night and are able to climb in through an unsecured window... 

Just ride out the current lease and then non renew.   

No one get's a million bucks and rides off into the sunset anymore :). $55k is definitely enough out there in TX to lock down a property that will pay you every month to own it.

Not because I think the market will go up, down, or sideways, but because I buy property that makes sense today, will benefit from appreciation should it continue, and in a conservative manner such that I position myself to ride out and even ramp up buying should the market decline. 

If you can ride a few years of storms then the longer term gains will always outweigh the low returns.

You can be wrong about the East Harlem submarket but if the overall NYC market goes up 20%, you probably still do well because East Harlem will probably go along for the ride unless something happens there that is specific to East Harlem.

It's been a hell of a ride for Massachusetts Single Family Housing (SFH).

Anyways I will keep all the papers ready to fight back… have to deal with such tenants who want to take a free ride even after giving him so much time and waiving all his late fee for several months..!  

You need deep pockets to ride it out.