One thing both my partner and I have been saying is that we have to look for solid, income producing, recession resistant deals so that we will be in the game when the best deals come around.

Resist the urge to interrupt."

@Spencer GrayThe immediate play is to cut expenses by fixing exhorbitant Water/sewer bill.Immediate planned rent increase by $100/unit as is still below market.Near term interior repairs is mostly to satisfy point of sale requirement per the city.We will resist over-renovating as there may not be enough return on the upswing in rent.I’ve seen the data you referenced re declining population.It just doesn’t bother me a lot when you’re investing in a large metro.I would be more concerned if you’re playing in secondary markets.

I hear if you don't apply it right you will end up with a messershmitt.Sorry, I couldn't resist. 

I would even resist the urge to just break even, you never know how long a dip in the market can last and you don't want to already be hemorrhaging money when (note: I didn't say "if") it happens.Another thing to worry about with Condos is that there could be restrictions to leasing it out because of the HOA.

That's not even a political statement or an attempt to flame anyone on either side of the aisle; it's a simple fact.

If you have a pan, water, and an open flame - put them together and you will have boiling water, It's that easy.

San Antonio is amazingly priced compared to every market and it is flaming hot because of the affordability.

Most builders are only able to make a profit because they build many homes at once and get materials at a steep discount due to the quantities they order.It's not like flipping, where the property is there are you are just improving it, you will have many costs such as connecting the property to the local utilities which could be inexpensive but can also be (more likely) crazy expensive, it all depends on the land you purchase and the proximity to current local utilities.The lure to jump in can be hard to resist, but take your time and find the right property. 

There are “fire chasers” in the construction trade, people who offer you a value for your house - for example, while your house is up in flames, they are real estate investors or wholesalers in a sense. if someone is making money out of it, pretty sure anyone can.