Inventory is low and there will always be a strong demand for cheaper housing if ever you decide you would rather not hold your property anymore.The risks are 1) They crash / correct harder than single family homes in a housing market crash.    

For instance, if you want to buy-and-hold in San Diego, then yes wait until a crash when you can buy cheaper (if a crash comes anytime soon).

There are some lessons to be learned from looking at what happened during the crash in Vegas .Same in L.A too but it seems like Vegas crashed even harder and it's a lot different market since there is still land available to build .

Yeah you can spend $3K and get a new car or fix it, but can you afford the medical bills of the people who get devastated in the crash?

House Flippers Caused the US Housing Market Crash.It suggests that it was not subprime borrowers with bad credit who caused the crash, but investors, based on the fact that the great expansion of credit happened with people who had good to excellent credit.What do you think about this argument?  

This was my experience during the 2008 crash.

The rental wasn't where I wanted to live, but it paid for the rent on the other home... then the market crashed and I lost a lot... but prior to that it worked swimmingly!  

I assume it's best to take the crash course on Saturday/Sunday?

While we can never be sure where we are in that cycle, we can be certain that it will dip or crash again at some point.  

Eric Bilderback It really depends on the area, I remember in Orange County during the crash you might have a property value drop 40% while rent dropped 20%.