Wages increase so significantly that it allows homes to not drop, stay as is or increase (fat chance).Clearly someone is going to win in this (potentially current homeowners and upper middle class), with losers being Millenials, Gen Z and others who do not own OR they are the winners and losers are anyone who bought the past 3 years.Either way, someone will win and someone is gonna lose.For me, I play offense and defense - I am consistently looking for deals but also if #1 happens, am I protected.

Just like my STR strategy only works in towns with a large industry and lots of bank foreclosures and your W2 job lets you meet potential renters on a daily basis. 

It's your job as a landlord to pre-screen potential leads (gross income, credit score, evictions or not, etc) and then only schedule showings for those people that meet your screening standards.

I have several hundred thousand to invest, but I am simply not finding any worthwhile deals after looking at hundreds of potential deals in various cities. 

All potential lots with direct road access sell as individual lots without any development.  

@Kim Durst Potentially you could take the $10k, then have another $10k (or whatever amount you feel covers your cost if there are further issues) held in escrow.

I also regularly underwrite properties for investment potential (aka cashflow!) 

You not taking action on this could potentially create issues in getting your property back.

I got a good referral about this potential tenant. 

This is a potential property that I am considering.