Much stronger than an FHA , first time buyer.

If you can NOT lease it out separately, then you have a stronger argument.Oren

@Russell Brazil hit the nail on the head - the 2 main ways to prepare for recession are:1) don’t over-leverage (buy properties in cash or put more down): this keeps your monthly loan pymts reasonable & gives you a buffer2) maintain cash reserves: in case you have to come out of pocket to cover extra vacancies, etcDoing both 1 & 2 are tough & will prohibit you from buying as many properties as you otherwise could - that’s kind of the point ;) Fewer properties with stronger balance sheet is key.Months of inventory is a great way to measure the health of a market & trends in a market.

One of my stronger qualities is the financial side.

I think people are probably just making stronger offers....more option money, more down, conventional financing...and all kinds of other ways to make their offers stronger.Might try BBVA or BofA with their new conventional financing with low down, no PMI, and they help with closing costs....not sure if it works in your area.

So if you rent for a year or two... you'll be in a much stronger financial position, and you'll be much more familiar with the market. 

Barrie Hamilton Windsor are places that returns appear to be stronger..

But I'm curious what the market will look like when it inevitably recovers and, possibly, comes back stronger than ever. 

I think getting a structural engineer to look at it and write up a report will be much stronger in your negotiation process. 

Lower insurance premiums and it's a conventional loan so stronger offer and less red tape involved.