As I said when it crashed holy molly did it crash.. and of course I got out of 198 of my loans and got stuck with 2 and lost 100k on those... but I enjoyed my time in Detroit on a travel and fun place to be level.. enjoyed the waterfront .. and liked the assets themselves the nice little brickers...

I do not think this will lead to a housing crash but it will affect certain markets.

What if a tenant gets hurt or their car crashes into other cars in the lot?

With all the competition lately and rising prices, I no longer find it useful to try to figure out how much of a loss on the loan the bank is willing to take - mainly because they usually don't have to take too much of a loss these days and they know it.The kind of "how much pain can I make the bank take" formula I think you're getting at, worked a lot better in 2010-2012 but not so much these days.It seems to me, and I could be wrong of course, but it seems like banks sat on a lot of properties/loans for 5+ years because they either 1) didn't want to flood the market with REOs and cause prices to crash, or 2) it took that long to sell, resell, and straighten out the paperwork on those loans/properties.Either way, whether it's because the strategy of waiting actually paid off (now think about 5+ years of taxes and holding costs and see if it really paid off) or just because banks/REO agents have (finally) gotten hip to the state of the market, I don't see great deals from bank REOs nowadays.I think there are still "good" deals to be had - but there's usually a lot of competition on them, and banks/agents know it.Also, related, read any bank P&S/offer addendums carefully.

I am just starting out in investing, but believe me I was around and witnessed first hand the hard crash that took place in 2008-10.

Does that mean a crash?  

There is a community fee (HOA) but it is nominal at an of ~$22/mo I ran the numbers on the above project and we would have made money as a rental or a sale - I estimated a rental price of $3,000-3,5000/mo - at least breaking even as a fix-n-holdI am a big fan of Encinitas, and if you have the budget I think this is still a great community to invest in - The property values throughout San Diego remain on the rise and as people within San Diego and beyond realize the charm in North County the desirability and value will remain on the rise -And if I think back to the last crash, Encinitas didn't depreciate much, it may have stabilized, but it did not fall with the crash. 

I went through the 60% Loss in property values in the 2008 Crash here in Tampa.

The rental demand is partly due to the enormous air force base, its many specialty manufacturers and military contracts, its two big universities and the slow resurrection of the auto industry which was devastated by the shuttering of GM at the crash time (I think it was 2007).The north side of town has the best housing stock in my view.

In no particular order:BiggerPockets Podcast 248: From Shop Teacher to Multifamily Syndicator with Todd DexheimerBiggerPockets Podcast 163: Making Your Real Estate Business Soar While Working a Full-Time Job with Bill AllenBiggerPockets Podcast 165: Limiting Beliefs That Hold You Back From Incredible Wealth with Natali Morris"BiggerPockets Podcast 179: Doing the “Impossible” by Buying 100+ Units in His First Two Years with Dale Hensel""BiggerPockets Podcast 182: 674 Multifamily Units in Three Years with Jake & Gino – [Corrected]""BiggerPockets Podcast 200: A Step-by-Step Guide to Buying Your First Real Estate Investment""BiggerPockets Podcast 201: Flipping 100+ “Zombie” Houses with Justin Stamper""BiggerPockets Podcast 217: How to Work Less and Earn More Using the 80/20 Rule with Perry Marshall""BiggerPockets Podcast 223: How to Become “Set for Life” Through House Hacking, Frugality, and Maximizing Your Income with Scott Trench""BiggerPockets Podcast 225: Surviving a Real Estate Crash and Investing Out-of-State with Kathy Fettke""BiggerPockets Podcast 077: Negotiating Your Way to 1000 Wholetail Real Estate Deals with Michael Quarles"BiggerPockets Podcast 008: Learning to Be a Profitable but Ethical Landlord with Al WilliamsonOne of my favorites.BiggerPockets Podcast 004: Commercial Real Estate Investing With Frank GallinelliGreat book."