Typically, home sale prices will lag about a year or 2 behind the economic drop because a) there was a massive stimulus passed to help people ride this out in the short term and b) it takes a few missed months of mortgage payments before a bank will start foreclosure proceedings, which can take another 6-12 months. 

Gotta ask ya, and I'm not being a smart alec, but if the foundation slipped 2 inches in 47 years it may not be a massive hurdle unless you're seeking to make it perfect (or the cracks look brand new). 

I am just in the massive education and knowledge stage so I can hit the ground running day one.

Now that the market has cooled off a bit, people are taking a step back to reevaluate, and this massive lull is a great opportunity for people who know what they are doing, know their markets, and know how to make the cash to genuinely swoop in, and capture so many dollars that are being passed up on by so many investors.

Many inexperienced OOS investors get lured into buying properties in D class areas because the cashflow looks great on paper, and then they get seriously burned when they discover that no PM will put in the significant effort it takes to correctly manage a property in a D area for such little return...then, they're stuck with a property nobody will manage correctly, that is a massive headache & liability, that nobody wants to rent, and that nobody wants to buy... don't fall into that trap!

In my opinion.. the best thing any hungry, dedicated and consistent young person can do is get into sales because you can take that risk of trading your time for money without worrying about massive overhead or feeding a family.

So, I'm trying to get that house upgrade the wife wants, while not just taking it on as massive liability. 

@Jason WarnerThe appraisal sounds like it is massively under value and might be a case of an incompetent appraiser.

Amazon has a billion options that you can curate and save massive dollars on. 

I've had nightmare tenants, evictions and massive repair bills.