I just feel I should have something else to protect myself in case rents drop.  

I owed 107k when the market dropped and houses all around me were 20/30k.

And, fun fact, if you throw your furnished rental income on Schedule C for a few years (while saving up a down payment using net profits from that business), it's mortgage qualifying income (granted it was a huge pain in the butt the first time I used it, and I know for a fact that not all lenders will go for it) in the event that you're so successful that you quit your day-job (2 of the 3 names I dropped above are people that do not have a traditional day-job).

Thank you for that important reminder.Turns out the sellers of my current contract are actually considering dropping the price a full 1/3 of the original offer so I may not move forward with the land/build option.

Only hire a professional who is NARPM credentialed and your chances of getting a bad PM drop to almost zero.

Eventually they're going to start making examples out of people and drop the hammer.

Also not willing to drop $20k or more, that's just insanity.

From there, you can select the following "Click here to search for a Facility, Business, Salon, Corporation, CE Provider, etc. instead of a person." to the left of the drop down menu.Please know that this is not an attempt to disparage any individual, organization or group.

How much will rent drop in the coming years? 

Is there a monthly rent limit to where dropping below the 1% rule is ok?