This drawer is so big and weak it will collapse once the tenant loads it up.

Credit worthy investors pursuing sound cash flowing properties are not the reason the market collapsed.  

I have purchased and rehabbed 2 forecloses as an owner occupant for myself and rehabbed several homes in Atlanta before the sub prime collapse.

It seems that most of the contractors left the state with the housing collapse and are slowing coming back but the handyman is hard to find.

In reality Detroit had cars, Pittsburgh had steel, Buffalo and Rochester had rail and manufacturing and all of these cities saw their collapse.

I feel we are one Natural disaster, or Terrorist attack away from the next collapse.

A lot of homes are still owned by them, values haven't collapsed, it's still a great place to *live* but no longer an attractive geography to rent.

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

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

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.