We picked properties in a market that was really depressed and didn't have potential for recovery.  8 years ago we were lured to an area by a "friend" and were wowed by the low home prices. 

I am an athlete playing basketball abroad and for about 9-10 months out of the year I have a relatively decent amount as my monthly salary from my employer.

Who knows, but recoveries typically take longer than the crashes.

Hopefully, housing will lead the economic recovery as predicted. 

The path and duration of economic recovery is unknown.

My goal is to open a recovery home in Philadelphia within the next 6 months to a year.

Should a tenant "need" to expend cash for something, that cost recovery is by invoice, and not withheld from the rent.

Then what can we say about the area's recovery?

Once this support is gone (around August this year), we should expect to see bankruptcies impacting the housing marketPlease share your thoughts and experiences.Thanks The recovery that we are not certain yet.

The home should be listed for fair market value and will more than likely sell fair market value, all things being equal.If you can't convince the bank to reduce their recovery by reducing their net proceeds so you can make a profit, i'd move on to the next deal.