Different fundamentals and underlying reasons for this time.

The fundamentals behind 2008 was manipulation in credit which caused a huge increase in demand (anyone could get a mortgage).

Aloha,The number of units you can effectively manage is entirely dependent on age and condition of each property; quality of Tenants and effectiveness of your screening  and move in process; available qualified contractor pool; solid systems for all major processes; your personal knowledge of all applicable laws, construction fundamentals, and troubleshooting capabilities.Do the right things right, the first time.

If you bought in a market that has good affordability, population and job growth and other positive fundamentals, but is not as "hot" and the market shifts, you likely will loose less value and be able to weather the storm or potentially even see growth. 

Vikram, the financial statements can give you the big picture view as you said to determine if the fundamentals make sense.

Given the market fundamentals in the valley, I feel fairly confident that we'll have good steady appreciation in the future, but I'm not comfortable investing in anything that's going to have a negative cashflow.If you are buying rentals right now in Salt Lake, how are you handling this?

In my opinion, the fundamentals of Atlanta are rock solid.

Hi Joshua,Start by learning the basics and fundamentals of real estate on BP. 

In other words, I'd rather have 30 years of lower monthly payments and a couple years of working hard to repay the HELOC, than have 30 years of higher payments and no HELOC.Perhaps my thinking is fundamentally flawed, though...?

Everyone wants to buy hot high flying stocks and assets, but few are really willing to pop open the books and research fundamental analysis.