When things go bad....recession, market collapse, bubble burst etc, all of a sudden, a bank's lending appetite will change.  

you'll see the same financial collapse happen in cleveland, chicago, and philli soon enough...

I had my sewer line collapse this past summer. 8k and it was repaired in a couple of days.

If the market flattens out, we can cash flow, if it continues to climb, we can benefit from more appreciation, and if it collapses and rents fall by 25% or so, we can survive with a little sweat and a hefty reserve and find ways to buy at the bottom.As always, your plan should allow you to win if the market keeps climbing, allow you to win if the market stays flat, and allow you to win if the market declines/collapses. 

I don't have a job, I have been self employed for 3.5 years, with the last 6 months being a total collapse of the cell phone market and my business in this area.

Often people leverage themselves to the max, and then collapse their portfolio and pay off their best and easiest to manage properties.

After it was the Soviet Union (collapsed of its own weight) it was lawsuit abuse.

A lot of condos don't have reserves and due to what happened with the nearby condo collapsing recently, Florida just passed a law to help prevent this from happening again.

The sewer pipe collapsed just outside the house and still had partial flow.Cost the bank $5,000 to dig it up and fix it.Old school sewer pipes used clay.

It can look like the bubble might be about to collapse.