Does that mean landlords are fleeing the Twin Cities, prices are collapsing, and rents are falling?

If the properties are putting cash in your pocket each month it is easy to wait out the collapse. 

If that is true then that would have helped the collapse further.In New Zealand you get into quite a bit of trouble breaking a mortgage.CheersMarc

It just means it is unlikely that asset prices prices will collapse as significantly as before.

I laugh when people try to persuade me into believing that we will experience another 07 collapse. 

A 3-degree rise would spell the collapse of the Amazon rainforest, disappearance of Greenland's ice sheet, and the creation of deserts across the Midwestern United States and southern Africa.

I would file one LLC and have it own a seperate LLC for every flip you do, then collapse the LLC doing the flip after you sell it. 

If the deal collapses and I would lose everything, I'm out.

The more things you're trying to do yourself as a noob, the more you open yourself up to risk and can just straight up go bankrupt (ie you do your own due dilligence and mess up big time on something structural and a buy and hold collapses on your tenants)The more you dabble in --you'll also learn a **** ton and be able to wear many hats....The less experience you have I'm sure you'll outsource, but at some point you'll say-- hey I can do that (and save a few hundred here or a few thousand there)    Then there's Legal aspects, contracts etc.  

Besides a "bee problem" in one unit, a leaky tub on the second floor on unit causing a ceiling to partially collapse, and some vandalism to 2 A/C units... not bad on maintenance either.