The point is if no one knows what your goals or plans are how would they know if its a good deal.A property in the heights or Oak Forest would never compare in these numbers but that is a speculation play.

The $600k ARV number is all speculation.

You are speculating about the lack of foreclosure action.  

Second you're speculating that an appraisal will be higher in 6 months than the comps you're having trouble justifying now.

And, please don't get sucked into thinking it all boils down to "cash flow" vs "speculating on appreciation" - that thinking is too simplistic.That said, I personally don't find the SFRs and Condos for traditional buy-rent-hold to be investable at this point.  

Question 3: I think most simply pay it and pad the rent but that is my speculation. 

I know they say appreciation is speculation, but either way rents would cover our mortgage.

Just pure speculation. 

The key in my opinion in an appreciation market (that doesn't hit 2%) is to focus on value add strategies ... forced appreciation is not speculative if done properly, and you don't need to be a flipper to take advantage of it, it can work for buy-and-hold too.

Loans were also given to speculators who were buying homes betting on appreciation with no regard for cash flow.