Its impossible to have a crystal ball @Jonathan Vona, there are people like Robert Kiyosaki and other economists who predict a correction / recession / crash or whatever you want to call it this year or by 2019.If you are going by the 10-12 years cycle then it may happen, if you are looking at the debt levels in the US and Europe then yes it doesn't look sustainable especially with rising interest rates.

As I mentioned, I'll be meeting with a RE attorney next week who I hope will make it crystal clear to me what steps I need to take.

@Shiloh Lundahl, My crystal ball says time is running out for those refi’s and many people probably should have started several weeks back before the glut in applications.

Not only does it cost money to have the carpet cleaned or replaced, it takes time as well that could be spent in better revenue-generating ways.Cat urine crystallizes, it stays there forever until you rip the carpet out.

I own 4 condos (all Seattle) and two shares in warehouse properties (Auburn and Puyallup) as well as a share of a rental ski lodge (Crystal Mountain).Have capital up to $100k cash to invest.CCIM, Masters of Science in Real Estate Development at UW (pending), high level of financial savvy and experienced in construction, tenant management & due diligence.

@Rusty Whitney I concur with @Crystal Smith  "if you don't have the reserves to handle tenants for a couple of months then you shouldn't invest" I would prolong my purchase for a few more months which would allow a few things to occur. 1. 

HQ West = SeattleHQ East = Crystal City, VAHQ Center = Dallas

Pre foreclosures are short sales typically and I work thos too now, but at time of comment, REO deals were my bread and butter.To be crystal clear, that comment was early in this thread and Mae some time ago.

That knowledge is not there (assuming you do not have a working crystal ball) at the time of purchase. 

It is probably not a make or break, just trying to make it crystal clear with no room for misinterpretation.