@Alexander HunterHi AlexanderYes you are correct, even though the AU market is softening some, it is still quite expensive to get in and can be difficult to find good deals - not impossible though.I invest in the US market from Australia, must admit, as a few have said on this thread, the diversity of the US market is great, and affordability and cashflow is excellent. 

Just because there is a pullback or a softening of the market doesn't mean a crash is coming but I am open to any scenario and not fixated to one view. 

Softening?

I'm not sure the best place to start in the area, I have several buy and holds in other markets but I like to travel to LA and the appreciation is interesting (though with markets softening I'm projecting overall negative appreciation over the next few years). 

@Bjorn Ahlblad we’re also looking forward to the buying opportunities should they materialize... but I can say that we’ve felt the softening of home prices here in Dallas over the last 6 months, and it’s not just the high-end stuff.

Given the softening in the market, I would imagine you can negotiate better now than before.  

I generally would not want to develop if occupancy was falling for the market or rents were softening at top cycle for most markets nationally.

Very intrigued with note investment (non-passively) and wanted to hear what experienced investors do when the RE market softens or drops.

I'm no MHP expert but I would imagine in a small town there would be a fine line in raising space rent high enough to push out the "problem" tenants but not the good ones, raising rates at the same time your'e offering them a home would seem to soften the hit though.

And you're considering this just as the pace of condo sales and prices are softening.