Recently in our area, reality seems to have finally sunk in.The economic realities have begun to cause rental owners to really react and aggressively cut prices on their units.No new jobs, layoffs, less income, people leaving the area.Both SFR and multi-family are affected and those with no mortgage or lower runtime cost structures have more flexibility with their pricing and are able to find tenants, though no where near the quality of yesteryear.Previous to this year, rents had remained fairly stable maybe down 5-10% but nothing compared to the 20% we are beginning to see now as desperate owners are realizing that they may lose their investments if they do not find tenants.The lower quality tenants actually have their pick of units now versus unable to find anything.As far as investing in new properties, it is a dangerous game if not backed by cash reserves, today's "low-money-down" owner is tomorrow's foreclosure.We see nothing on the horizon to change this pattern, rents will seemingly continue to drop and day-to-day management will continue to take more time and effort due to the lower quality.

They had a kind of vinyl plank called Konecto with a 25 year warranty for $3.99/SF (material price only--installation was 2.50/SF extra), and through body porcelain tile for $3.29/SF (labor was 3.29/SF).These prices seem pretty high.

This material absorbs the H2S gas.If the gas has already reacted with water to form acid, then I don't think this materials will do anything about that acid.

Did he just throw warm bodies in there?

My answer to the question in the body of your post is "Yes, I agree that sounds too good to be true".Not sure how these two answers are related, but I'll help out if I can...

Enjoy life when you're young, because when you're older and have all the money and wealth, you'll look back and say I wish I did this or that when my body and life allowed me to do certain things.

Think universitys, downtowns, historic districts, water bodies, etc.

Let some body else pay off the mortgage and have another asset to hold as a long term hedge against inflation.

I give them all the market information on what effects rates and go over their options and the difference in the .125 in rate if it goes down and .25 if it goes up (rates have the bouncing ball effect, when they go down they go slowly by under reacting and when they go up, they bounce up usally higher and over reacts.) then the last thing i say to them, is that extra possible drop of .125 in rate worth the risk of the rate jumping .25?

I am a Lieutenant Firefighter of 18 years, though amazing, it has taken a toll of my body.