As I was doing my analysis in my spreadsheet, it occurred to me the holding cost for financing the project will be around $20,000.

(ABCT).In a nutshell, because the interest rate is determined by a central bank authority, (The Fed), instead of the market, malinvestment occurs.

I've been doing single family rentals for a few years - sort of by accident...and now getting a bit more active.  

The likelihood of this occurring is slim, but you would be covered.

Cycles can occur across national housing markets, across states, across metro areas, in individual cities and even in a neighborhood.

David Dey when a house is listed through an agent and you are wanting to do a seller finance deal, like the one where you agree to a price and interest and let the interest occur until you sell it or refinance it are you running this deal through the real estate agent or contacting the owner directly?

I had a bad accident in April that ate up the cash I had set to the side - My goal is to do the repairs and then refinancing the mortgages to pay the hard money or bridge loan back .

Price drops will only occur if something disrupts that demand (like a recession), or if something causes supply to spike. 

What we have been able to do is hit up Freddie for a supplemental after 18 months when NOI growth has occurred and if the cap rates have held stable or dropped.  

Just keep in mind that between the dog and 3 teenage boys what sort of potential damage will they do to the property with "accidents".