My crystal ball sees bankruptcy attorneys rubbing their hands with glee.

My crystal ball's batteries are low and I can not tell when it will end, only that it will.This is not a crisis, it is a moment of untold opportunity.Fear is ruling the day and it leads to poor or no decision making.My Advice:If you are in a secure financial place and have cash, YOU MUST WATCH THE RE MARKET CLOSELY and be ready to make a decision and buy when the right deal comes along.  

@Colton KingMy crystal ball says the economy as a whole will not be imploding soon.Fed plans on keeping interest rates low for the foreseeable future and that helps keep home prices higher.

This is what will cause stock for owner-occupied to increase and therefore hurt new starts.Unless we see hyperinflation where prices increase and wages do too, we will probably see rents flatten or even decrease as demand goes down.No money means no demand - don't need to be a Pulitzer winner or possess a crystal ball to see that coming.So the answer will be the hustle.

As a courtesy to the tenant, the invoice will be presented 30 days prior to the due date.In my crystal ball, I see a lot of court dates.

If I were in the situation I would hopefully have used a Deposit to Hold agreement and I would keep the deposit, cut ties with the already not-understanding tenant, and search for someone who exhibits the qualities I value in a tenant (namely their Mindset).You have either a crystal clear case to do that, or a fairly clear case (depending on whether or not you used a deposit to hold agreement). 

@Crystal Ng I have written a blog post that may help you out.

I don't have a crystal ball.  

Karl,Do you do Crystal Beach also?

My Merrill Lynch advisor said her model predicts the market should be good for another two years, but nobody has the crystal ball.