If values go down, you need to rely a lot on cash flow from rent but no way will rent cover expenses in Bay Area presently and you will be bleeding cash every month.

If you end up canning this PM and decide to take another stab at finding a good one, see if you can find one who has been in the business a long time and is also a successful broker or has some other revenue stream that way they won’t need to bleed you dry with additional fees in order to stay solvent.

Rain causes the river to swell but just because the river is swelling doesn't mean it is raining.

Additionally, there are powerful forces at work who do not want you to succeed - are you going to bleed CF?!

The previous owner was BLEEDING a ridiculous amount on energy loss.

There are still a lot of forclosures on the horizon in those areas and until that bleeding stops the price decline won't stop.Just my 2 cents.

And, that it will last maybe a few years, because radiant humidity will swell the MDF, thus deforming and destroying the locks.   

Good points and better educated borrowers Contingent liabilities bleeding over to others involved could be another aspect, I don't know, but I'll just bet the RE brokers here have given standing orders to all agents....no seller finance deals through this office!

Even under the most optimistic analysis, this property will bleed cash.

Many investors bleed their investments dry and have no resources when the unexpected comes up.