I'm probably just crystal balling but hopefully picturing a balanced scenario.

The fed is out of silver bullets and there is a full moon on the rise.With regard to RE (at least in my market) I think it will likely peak summer 2017 if lending does NOT loosen up, or later (maybe a year or two) with a much more severe downturn if it does, but my crystal ball is just as fuzzy as everyone else's.  

I don't have a crystal ball and can't predict markets; so, I try to purchase investments that perform similarly in up or down markets (and allow forced appreciation).  

If you are well versed in geopolitics and energy market trends and fluctuations (and have a crystal ball as a backup) you could conceivably make that element work to your advantage.

Crystal Smith I definitely agree with you 1000% on this.

There are many variances across different states and even different markets, as @Crystal Smith has mentioned. 

Definitely a good start on the criteria...it's interesting when you start to plug this stuff into an algorithm and say "where does this exist"...it's like a crystal ball...getting a deal under contract is another thing, lol.

Even recognizing all the effort has been lost and you have to start over most people would call a win (I personally would not bother if I knew this outcome (if I had a crystal ball) as I place effort to build upon and not start over in 10 months). 

No one has a crystal bowl but the current situation could go on for years given some offsetting positives like interest rates and the lack of inventory.

Crystal