I'm pretty sure HML is out of the question due to higher int rates and length of time needed.I know it's a bad time to be hitting up the banks for loans and that I'm looking at an uphill battle.

My parenthetical comment was related to the fact that depreciation is similar to CapEx, in that they both account for the wear on the capital asset (though one actually hits the statement of cash flows and the other is just on paper). 

But, I know we will come out of it again and in my guesstimation, it should be right about the time my girls hit college and that is what I am shooting for.Right now, in my neighborhood there is a house a guy bought for 70K and has listed for 129K.

You could learn how to manage properties, spend the next 5-10 years buying cashflowing property, retire before you hit 35 and never work a day in your life again.

Otherwise it will have to take the hit on negative equity.So I would think that we will be seeing a lot more flexibility of the mortgage holders in the near future to keep people in their homes.Are you guys seeing any of this happening yet?

Shoot me a pm once you hit 10 posts.

I know that your surrounding area has been hit hard with foreclosures particularily OH & MI.

These cash flow better and you don't take as much of a hit financially when you have a vacancy.

We have been putting these properties in an exel spreadhseet and then hitting Zillow and the county records to fill in some of the missing information such as delinquent taxes, public utilities owing etc.I have also thought about hitting the REO listing agents to do a lot of the ground work for us.

"Shortsale" is going to become the new hit thing and a lot of people will make a lot of money at it.