I feel there is a market correction on the horizon.

The time horizon sounds long but is actually short. 

You can already see the problems just over the horizon. 

There are alot of tricky situations like this on the horizon given the circumstances.Thanks in Advance!

Also, you need to factor something in for maintenance, and you need to figure out what cap ex items are on the near horizon (roof, heaters/AC, major plumbing/foundation, etc). 

Then you have to beat the street to eat again.I have 10, 20 year investment horizons.  

Index funds are great for long-term investors, potentially terrible for those with a short time-horizon.

Unless they become an impediment to qualifying for a loan - which, if you only have $8k, they shouldn't - the math says you're better off not paying them off early.If your horizon is 1-2 years, I wouldn't be afraid of keeping some money in cash.

Ie If we got the property, the price is low enough that my wife and I could personally cash flow the building until it was stable, but is that a 12 month time horizon?  

A quick glance at housing affordability in AustinMedian Household Income App (Forbes): $73,493 ($6,124/mos)Cost of Living (Forbes): 15% above nat'l avgMedian Home Cost (SFR-ABOR Stats): $302,250Assume 5% Down Payment Conventional Loan- 30 year amortization- $15,112.50 down pmt + any closing costs• Percentage of residents with less than $1,000 saved: 56%• https://www.gobankingrates.com/…/…/americans-savings-state/…- $287,137.50 amt financed- 4.375% interest rateHow the payment looks:PI= $1,433 mosIns= $105 mosTaxes= $458.33 mos (Assume $5,500/yr)HOA= $25 mos$2,021.3/mos PITIDTI’sHousing ratio= app 33% @ median income ($2021/$6124)FHA should be at 31% or less with Conv/VA/FHA being around the same although all have exceptions in placeTotal DTIThese hover between high 30%’s to manually underwritten total DTI’s in the 50’s or higher depending on the programs@ 45% Total DTI Ratio and assuming the above PITI pmt that gives a borrower approximately $734 per month in all other creditor debt (cars/cc/personal loans/etc)These numbers are not perfect but are rather a quick illustration of current housing affordability in Austin for Retail Buyers.Summary: Housing is becoming less and less affordable in the COA for end retail buyersAssuming increases in property taxes/insurance/interest rates on the horizon how does this affect us as investors?