The other half says "It's a great time to buy cheap as long as we could weather degraded rental income or are willing to carry the property for 1-3years at somewhat of a loss and things will recover great".What are folks thinking?

And I suspect that because the path of least resistance will be to stay and pay the increased rent, that's what they will do.Far worse mistakes have been made in the world of investing and at least here you're close to break even rather than losing everything as some have done.

But, keep in mind, you'll have a lot of resistance from many communities.

I tried to sell one unit because of HOA is not good (no reserves, no management etc) but a tenant from next door wanted to rent and I increased rent by 21%….hard to resist.

As I said before, the hoa almost never names any of the second/third mtgs as additional defendants, because they are not required to and it could create resistance from the junior mtgs since they would be wiped out.

Resist the temptation to use it for anything but the emergency it is saved for. 

Mr Mustache and then there was the couple that collected social security and lived in their van traveling where the good weather took them.

The learning curve is expensive, building on an island is expensive and a lot o things are out of your hands like weather or COVID Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

In your opinion the low quality and lack of water resistance is what caused the problem.

When the water sits still it becomes non-potable very quickly, but if it has a strong current it is safe to drink, because there is no germ that can grow without sitting still" When your money sits still in a savings account it weathers in the storm of inflation.