Buying a collateralize in a falling market can significantly increase the risk. 

Cincinnati has a lot of 4 families and people are willing to pay absurd amounts for them, where they likely only cash flow with a cash purchase or very, very low loan balance.In this scenario, I would run the numbers to see if they fall out for you. 

Nobody is going to make the payment for you if you fall on hard times.

Purchase price: $177,000 Currently live on property and plan to rent out this fall for a potential $450 cashflow and 15% CoC ROI.

So that theory falls apart.Secondly...if someone has 2 houses.. even worse, lets say 3 houses... this means he WANTED 3 houses. it also could very well mean, he has plenty of money to buy 3 houses.

To be honest, I believe there will be a number of foreclosures in the fall due to the economy and lenders providing forbearance solutions, which only delayed the payments.  

In November 2009, depressed, like many here, ...a victim of the "real estate bubble" and the horrible economy (the "the dark days of 2008"!).

The windows weren't installed correctly either which we had NO IDEA about until they started falling out of the frames which is a huge hazard as I am pregnant, not to mention is damaging to our property?!

If it does not appraise, then most contracts fall thru because of financing.

I'm actually looking into doing my first flip but seeing that I work at a Title Company I've also seen a lot of deals fall through due to Covid bc people are being layed off...So I would say make sure your financing is secure and (job as well) bc they will check before they give you a clear to close and if anything is different than what you originally disclosed on your 1003 (lenders loan application) then they will have a reason to delay closing or cancel it.So just make sure all your ducks are in a row before you jump.