The roof, tuck pointing, Boiler, hot water tank and City water supply line are all new within the last 5 years.

If you look at margins nationwide California,Parts of Florida,New York,etc. are all speculative.I remember a 4 or 5 years back in Miami there would be only so many condos being built and sold in a development.The investors would pay a homeless person (no joke) 100 bucks a day to stay in the line for them.They would buy up units and then immediately maybe in 1 to 2 months flip them for almost double.The markets were totally crazy then.Same stuff in Cali where brokers were telling me trailers were going for 750,000.So some of these investors that bought and made a ton along with foreign investors are ready to play the speculation game.They are not really in it for the cash flow.They already have a nice portfolio and chunks of cash to allocate funds to speculative investments and if they don't all margin out they will be fine.Speculating is fine if you have the money to lose and still be flush with cash.So these speculative markets have very wild swings in values.First to tank down hard and first usually to start going back up.In Georgia we have more moderate peaks and dips.So with some appreciation back but not huge swings in the future you need the cash flow as part of the deal.I don't like speculation just the hard numbers.I will speculate to a degree on land for future commercial development but I won't buy a house that loses money every month just on the potential of appreciation in the future.

When the market tanked, I didn't get paid for months.

(FHA/FL does not require)Seller has tank pumped (hasn't been done in 5 years).

The house has a Hugh oil tank in the basement.

Do you ever watch The Sharks show on TV?

I'm no fortune teller but I don't see anything that would suggest a crash.I'm putting it in writing, so if the market tanks in the next year or so, feel free to give me a big "I told you so" !

Over the years we fought the 2x tax assessment increases each year because the shop next door put in a 12ft tall propane tank & insurance was tough to get.

Worn flapper or fill valve in toilet, replacing a faucet cartridge, replacing CH/A filters, change fluorescent ballast, adjust screen doors and windows, flush hot water tank, replace faulty breakers, replace a circulation fan in a refridgerator, replace agitator dogs in a washer, change heating element or ignitor in an electric or gas clothes dryer, lubricating a ceiling fan, replace a p trap under any sink, replace any wind blown shingles, change any thermocouple in a gas appliance, do simple 110v flux core welding, do pvc/copper/pex/galv. plumbing, etc.If you don't know how to do those things yourself, someone else is going to make money off of you.  

Be very careful with your money, the majority of people on BP are great and share info and advice for free, but there are some sharks in these waters so keep your guard up.