In my experience as an investor and trader, I have found that unloading a non performing investment is very hard for most people to do.

A few greedy, under-educated newbies can really give us a bad name.

you are exactly right.Those numbers are actually pretty close, there is another member of BP that can verify that as I allowed him to listen in on the call with the seller, its up to him if he wants to speak up and validate.here are the actual numbers:1st = 95,770 @ 6% and $789 w/ PITI2nd = 17,289 @ 8% and $172total of $113,059.00 and $961 a month PITILow comps are at $140k range, high range is $160kI'm not greedy so I'll work off the low range.I'm working on getting the seller to handle the 2nd herself and just Subbing the 1st.....

I also quit my job because I am a full time trader.

I get the sense that any sort of bubble here would originate from a drastic increase in the foreclosure rate for investment property loans given all the capital that's flowing into this sector, especially as more articles like this one will only further push house flipping into the mainstream with people (even more so than it is already).Like @Chris C. said, "The Big Short" was a way for us to understand that money was being loaned to people who shouldn't have qualified by banks who were being greedy.

Warren Buffet: Be greedy when others are fearful, and fearful when others are greedy.In terms of the next downturn:There are 4 possible triggers:1.

Greed is the greatest downfall of man. 30k is nothing to worry about, peanuts in the larger game.

If the investors are greedy slum lords it's not a good thing, but if they're solid investors who want to improve the property (and therefore the neighborhood) then the neighborhood will benefit. 

Others are lone wolves and want a game of 1, happy to roll up those sleeves and grind away for months renovating a turd of a property into something worth living in, and are stoked at making $100k a year and think $200k is greedy and ridiculous.     

What we have found is even if you do market the property at 20% return, there are so many investors out there that bid it up to a 10% return that I would recommend doing it at a 20% return because your buyers will recognize you as a person that puts up good deals and you don't get a reputation as being a greedy wholesaler.