You are also going to want to make sure that you have experience in the space either from yourself or someone else otherwise it will be difficult to attract investment.

Or you might drop the rent to attract more interest.Landlords who don't have reserves might lose their properties, therefore more foreclosures. 

Which is why wholesaling is much more attractive because it requires no start up money. 

There’s deals out there so don’t be too attracted by the low asking price.

I may have to lower prices a little, but my properties attract couples and small families in an affordable, drivable destination, and I have enough margin that I can ride out a drop in price for awhile.  

I personally would prefer to do my deals with a private lender at 20% rather than a hard money lender, but you need a track record with real estate before you can attract the attention of one. 

Irrespective of the merits of any of these predictions though, it never hurts to have your financial house in order by aggressively paying down debt, building up cash reserves, and positioning oneself to capitalize on attractive asset prices, whether that's from a downturn/correction/crash or just from spotting an opportune deal that will do well in any economic environment. 

While the area around Temple got a lot better, it's still not exactly the most attractive area to live in Philly. 

TeresaYeah, I noticed that too - the properties with the highest cap rate are ones where the purchase price is fake - auctioneers to do to attract attention, even though everyone knows they'll end up selling for more.

I was thinking of buying it and making some improvements to attract more stable tenants.