Right now it is a huge target and costing you thousands per year in lost income.

This is an ongoing thing with every tenant, in fact we have lost 3 tenants in the last 6 months because of it, they could not live with the stress and so we let them leave.So my question is what is my recourse as the owner? 

All Tenants agree not to hold the Landlord responsible for any personal items lost or stolen from the premise.O.

How many have done this in the phoenix area and how long does it take for a house to be completely lost and thrown into auction?

I feel like I lost out when I put 20 % down originally and the price dropped drastically and I lost money.I don't want my original mistake to remain a mistake but I am not sure what is the wise direction.

You can take steps to minimize the chances you'll lose any money, but anyone who claims they have never lost a dollar in REI is either lying or has little or nothing invested.

Also, you need to have a line item in your budget for repairs, and for lost rent.  

You would have just as much cost in a turn or lost time for vacancy to fill.

Do you think you broke even on the cost, made money or lost money.

Some of you have suggested that I should shop around to find more investor friendly brokers - i think thats a good idea, but i think ultimately, DTI is going to remain a problem for me.Some of you have suggested I look in markets where the houses cost less: I am, I am looking in North Carolina right now.There was a suggestion of using private money - I don't have a problem doing so, as long as the terms are such that both myself and my private money guy (whoever that would be) can make profit.I started actively looking in this area because i wanted to stop reading books and sitting on the sideline, and actually make positive movements towards ultimately buying...but right now, I feel lost in a sea where i don't know where to go.