Of course, I have already begun speaking with owners that are less well capitalized and are willing to consider significant discounts from where they were just a few weeks ago.While I think most owners that have adequate reserves and do not have a short fuse on their existing debt will be ok over the long term, it is difficult for me to say for sure that an adequate refi ability will exist in the next 3-6 months or so.

I literally haven't begun investing yet.

My brother and I have begun investing in single-family properties in Northwest Indiana, about an hour east of Chicago.

Brock VandenBergFor simplicity of communication, I've begun to refer to myself as a "net worth investor" rather than a "cash flow investor". 

I've begun depositing rent checks.

@Chris Mason I completely understand it seems hasty to start calculating numbers before I have even begun any transactions but that is more out of concern that I might get taken advantage of rather than an overestimation of my abilities as "the hottest thing since sliced bread." 

Hi Everybody,I am updating my current situation; I am the original poster.We are now 3 months behind on this loan and WAMU/Chase has begun giving us a little attention.

There are also a couple of REI groups in the area I have begun attending.Contact me via direct message and I can fill you in on the details.

You can use a 10% down payment "vacation home loan" instead of 20-25% for an investment property Long Term Rental, if down payment is the main hurdle.If you haven't begun investing already then getting in the game is usually the way to go so you can gain experience and confidence doing so, Condo OR single family, if you have been investing awhile then waiting may look better so you can be sure you find the investment that may fit your needs.Hope this is helpful to think about!

Since then I’ve begun to DIY the shower in the top unit, replacing the drywall and tile.