After we refi we can expect our portion of the mortgage to drop to $0, and just pay utilities, because based on comps our home is already worth close to $500k.

What actionable steps should prepare a newbie to pull the trigger when property prices drops again?

I would drop the manager/president/board an email with a copy of the bylaws stating the ruleGood luck with your new tenant

He dropped the price 25k on zillow this morning and it needs to drop another 25k before I'll start getting interested.ARV of 425-450k, 150k conservative rehab, I will pay a max of 200k, prefer 180k.  

They even know my home address, as they sometimes stop to drop the check.

Account Closed  that's quite a robust underwriting critera.. if someone makes all of those points they probably don't need to borrow money.. they all ready made it  LOL.. although I easily do but on occasion I will borrow from private or HML when I have my bank lines maxed out.. rates are dropping like a rock too for hML on west coast..

So you'll either need to fix them up to be competitive with newer homes or drop your price to be competitive with other older homes.

Other side yes they make a drop less on each job for me but get a lot of steady consistent work.

Sometimes it's a good idea to drop in at their place unexpectedly with paper work for them to sign during the screening process.Aside from that the only thing lacking was your inspections.

it dropped in price a few times, but seems to have leveled off.