Make sure to go over those VERY carefully and ask for deposit receipts for the last two months.

Better to build your own equity through the debt pay down, enjoy the tax benefits of ownership, and garner the equity of an appreciating asset.

She had such bad memories of it, she didn't care how much it sold for, as long as she at least broke even.

However, the time it took to take care of all the small things we didn't consider, really added up (turning utilities on/off, time in transit going to the property, finding a truck to borrow when we needed one).

I told her she can't have that many people there and it's in the lease (she didn't care). 

I suspect that we will all be waiting a lifetime to see rates back to were they were 2 to 4 years ago.. so I would not bank on that.. as for pricing.. if its a place to live then you certainly can just wait and see.. its not like your homeless or need to move other than you don't care for your neighbors.. markets always slow about now.. what will be telling in my mind is were we are at next Feb March April in the buying season as it were.I was in a conference this week here in Vegas and some of the speculation is that many of the commercial type loans that had 5 , 7 and 10 year calls  are going to stress those that had max leverage.. as the rates rise the cap rates rise to keep pace thereby devaluing the properties.. to the point some of these investors are going to need to bring some to significant amount of fresh capital to pay down their debt to get a refi.. and that will stress those assets and there could be a real buying opp in that sector.. at least that's what I gleaned from the talk I listened to yesterday... hope you find that dream home in the country !!!

I have a motivated seller who said he doesn't care about his credit or a foreclosure he just wants some money in his pocket. 

I have a motivated seller who said he doesn't care about his credit or a foreclosure he just wants some money in his pocket.

Have the agreement notarized and keep meticulous care of your rent receipts as these will be your proof of down payment when it comes to refinancing in the future.

I have a lot of family in the industry, we take care of each other!