@Matt Pich-Maxon  hard to imagine that there would be a rental shortage out there! 

They are suffering from very low inventory, so probably won't be getting any great deals on price. https://www.wsj.com/articles/scarcity-of-housing-in-rural-america-drives-worker-shortage-1527672602

A very close friend has 16 rental homes here in the area, he says vacancy is 100% all the time (never shortage of tenants) low turnover here, and low expenses.

It's not speculation - it's a shortage of land (and thus housing) in an area that is desirable to live due to weather, culture, etc. with a highly skilled and well-paid workforce.

So, the shortage gets worse, not better.I will agree with REI on this point.

I would also be at a shortage of capital at the moment :lol:The area we live at (DC Metro), residential real estate just exploded in the past 6 years.

If your home is foreclosed on and is sold at the sheriff's auction, and the amount of the winning bid is less than what you owe, then the lender does have the right to come back to you for the shortage.

Property #1Purchase Price $149,500 (Nov 2004)PITI - $1725 (includes $350 for HELOC, $250 for escrow shortage pymt (12months left), $125 Association Dues)Rent Received: $1195Net - -$530 (ouchhhh)And this does not even take operating expenses into acct (double ouuchhhh)...and a very high vacancy rate in Property #1...Positives: This areas has NOT seen a decrease in prices at all.

Convince the lenders you have no money and no way to pay off the shortage.

All the foreclosures in these complexes are causing a shortage of hoa dues, leading to the complex going down hill: Termite damage left unrepaired, giant potholes, wood damage, squatters.