Now, obviously if I buy in a bull market and sell in a bear market, that will eat away at my returns, and likely erase them.

Don't eat and drink all your money!

Eat I can offer is to tell you to peruse the forums and read.

I spoke to water department yesterday (because I haven't given up yet) and they said deal with your title company --- before I reached back out (again) to title company to say --- I'm not eating this whole thing myself or I am not using you again--- I wanted to reach out to the forum..... is there any statute?

Good for you for being conscious of this, you are off to a good start.

I end up eating the water bill on all of my multi-family properties.  

You don't want to drag this out for months, and keep in mind many other things  can come up that eat into your profit.

In 30 years the appreciation will eat up the price difference and the rent growth will double and triple or more your rent rates.

So many people I know hang on to their jobs and pray they don't get layed off just so they can keep paying that 30 year mortgage on a single family house that is eating them alive.

I wanted to openly share a problem I am having and have yet to really fully over come it although I have been able to address and tackle some of the pitfalls I am encountering.I am renovating a downstairs space to create an apartment.I will need anywhere between 8-11k to complete. depending on how much work i do myself and what level of appliances and cabinetry I choose.So far after one year I have only done the electrical. demo. sheetrock and plumbing the plumbing was pretty extensive as an ejector pump had to be installed and the pipe routed over 16 feet across the attic space above the ceiling. a washer dryer connection was made and plumbing for refrigerator sink and bathroom were all completed.I am still so far away  doors, both exterior and intererior. flooring. cabinets. appliances. paint. bathroom remodeling.currently I do not have a lot of cash flow because I purchased a Bmw. and the note is eating into my operation budget.I should have waited (that is the deferred Gratification piece)also the occasional hiccup has caused grief like a tree that had grown around my outside water meter. and had to be removed only to have a hot water heater fail the next month. followed by property taxesso it has been five months since I have done anything in the apartment.I can probably manage to put 1000 per month consistently toward this project.It will take sacrifice and not too much personal pleasure indulgences.This would have been the first month I was going to start the doorsbut I started teaching bass guitar so bought a bass then another then another in a five day period.