Foreclosure have all but dried up as well and the same investors are fighting for these like dogs over a bone (thus no meat left). 

Otherwise your going to lose a few hairs!

You can get a tiny combo unit for around $1200, but you better be prepared for tenants to complain about the REALLY long dry times and capacity issues.

Auctions dried up, so it took 5 months to secure a short sale in Sacramento.

At that point, due to changes in the regulations of my state, I will not be able to make as much money, and my inventory of cases may dry up.Outside of our primary residence (and a house I'm building in the Keys for retirement), I've done zero real estate deals.

Roof materials: I know in Phoenix, buyers like tile roofing best because they last 30 - 40 years in the dry desert climate and investors don't typically have to worry about factoring in repair costs for a home with tile roofing (if it's relatively new).

I like cut and dry communication.

Another thought is to ask if he has used your rental as his mailing address.... if so,it makes it pretty cut and dry.  

The basement finished area (not really just a dry walled wall and paint but not livable space) bringing the appraised value of the home to $330,000.00.

The big boys did play a roll in accelerating the correction in certain markets, but only marginally (in my opinion) until that inventory dried up and prices returned to normal.