The Buffalo, NY area has gone through a tremendous rebound. 

Detroit has been on the rebound for a few years already and the introduction of this substance will bring in more businesses, attractive for millennial growth, and cause media to take away the "bankrupt city" annotation Detroit has and spin the new name for Detroit of this like "land of opportunity for businesses and millennials."

Set for doom or on the rebound?

I had to rent it until things rebounded and it was a nightmare.

We moved when the market crashed, knowing southern CA always rebounds first, and went down there for 10 years, where we built new spec construction in coastal Orange County. 

I also like how you rebounded when the trading didn’t pan out, instead of crying over the loss, you focused your energy on activities that served you in the long term like reading books.

So even though the value of your home may drop on the resale side, you will still have positive income from your renters until the market rebounds. 

I did the same on a conventional 10% with pmi and had a brokers price opinion got me out of the pmi after 2 years without an appraisal or refi because of the market rebound.

Most deals I’ve bought were rebound deals (first buyer failed to perform) or off-market acquisitions.  

@Daniel Brown this was actually a rebound property.