The days of 'pick a price & lets see what we can get' are over for now.Sellers & Realtors will be working harder to get homes sold.The RE market goes up & down like any other market.I think we will see a rebound in the future.

They usually rebound a bit when I tell them the rehab plans, added value to the neighborhood, and how we operate as rental owners.  

So while the economy and house marketing struggle to rebound...Laissez les bons temps rouler...Let the good times roll!

If we had more of a finacial backing or collaborating hard money lenders who have been in the investing business for some time, then I could more appropriately see us buying and fliping when the market rebounds; 3) We don't want to approach this venture with limited experience and end up on the losing end.

Here are a few articles I think you may find beneficial if you would like to learn a little more:http://m.metrotimes.com/news/news-features/detroit-s-real-estate-market-sees-rebound-1.1580633http://www.forbes.com/sites/realtorcom/2012/06/14/detroit-real-estate-comeback-kid/http://www.mlive.com/business/detroit/index.ssf/2013/11/developing_detroit_metro_detro.html

Most areas with housing in entry level heave peaked out on the rebound so you are buying the rental mainly for cash flow.

Having said that isn't your area experiencing price rebounds?

It peaked in 2007 and has since then been on a decline, but it has substantial potential to make a rebound this year.

I'm eager to learn, succeed, and rebound if I fail.Thank you...and I plan to share my stories as I progressJason

And if your'e so inclined and you think oil will have a short term rebound, you can buy securities to ride that wave back up.