The changes in underwriting criteria has made it much more difficult to buy a house and the people who buy a house to live in are lower in number, but can actually afford the homes that they buy.While it might be true that we are near a top and might have a correction on the horizon, it's unrealistic to say the correction will resemble anything close to a collapse.  

This happened in 2008 during the brink of collapse.

@Daniel 50k in remediation expenses on a deal worth 1.4 million seems like a pretty minute hiccup on that deal I can't imagine the profit margin on that deal would be slim enough to collapse a deal over 50k... but I understand what your saying for sure and is a very valuable point. 

Is it safe to purchase at this time, or do you all see another bubble leading into a collapse? 

If the roof collapses (as it did on a related property) it would appear I'm totally on my own here.

Loc has good reason to look at balloons as a future disaster, most all are very poorly underwritten, usually just agreed to, without any due diligence and yes, those collapse.

You sewer collapses?

As an added bonus; the tenant broke into the property a few days after her lease wasn’t extended, poured cement down the kitchen sink and turned the water on causing the entire floor to collapse in that section of the building.

I don't think a collapse will be headed our way, but I do believe that we will see home prices begin to plateau until rent values come up and encourage investors to push towards SFR's instead of multi family.

I was there in 2007-2008 and watched my real estate investor friend's portfolios collapse one by one.