If you take a long-term view of rentals and expect pain and negative cash flow for a while, then this is the best time I have seen to get in the game, the expected appreciation curve in the coming years has a steep grade and capital gains are there in the future, but pain is ahead in the short term and you must expect that, and do a lot of work, as much as possible, yourself.

The 50% rule is painfully true.

People who do a subject2 deal just want to stop the pain of worrying about their situation and move on with their life (like many new landlords).

That's the next smaller administrative unit within individual states.

The last refi I did was at the very end of 2009 and it was such a pain the fanny that I've given up on this approach.

BOA is a pain in the arse, but not for the reasons you stated.

Went to doctor for pain in stomach.

The SBA (Small Buiness Administration) can be a great resource and area to start.

I first stumbled across your site in 06, and recently became more active.I just wanted to say thanks, as an owner of 5 sites myself, I know how much of a pain it can be to maintain a site, much less moderate the content.

I totally feel your pain about the housing prices in CA.Good luck!