With the luxury market seeing a significant decline according to my Realtor, it may be best to cut your losses now, as the capital you currently have tied up in that deal can be used to generate income from other deals. 

So you could end up with 3 choices: a.) walk-away and kill your credit for 7 years, b.) lose a little each month in negative cash-flow (as rents likely declined), c.) pay the bank the additional loan balance at closing. 3.)

He points out that real estate has pretty consistently gone up over most of our life times because of the baby boomers, but now that they are down-sizing and dying off, real estate will decline over the next 20 years.

So looks like with bond yields making all time lows, mortgage rates also continue to decline to record lows or very close to those levels.

.* Through the 1950s and 1960s, the use of exterior lead-based paint declined significantly, and ended by the early 1970s.* In 1971, the federal Lead Poisoning Prevention Act was passed.* In 1978, the federal government banned consumer uses of lead paint.

The critical consideration in these markets will be to find zip codes where the population is growing, because zip codes in which the population is declining will result in declining values over time and perhaps declining rents as well.I've always liked Albany as a market, though I have not invested there because there is very limited product in the larger multifamily space.  

I politely declined, I've been with them for years, I may need to start banking at a smaller bank thats more flexible bc chase made me put 50% down to buy my vacation home which was steep but I was told with my balance sheet my debt to income was barely enough to get it in with all things considered.

This is an extremely insular county and city that is well aware of its continuing population decline and doesn't take kindly to outsiders.

Often times a 'stale' expired appraisal can be 'renewed' with a $100 or $150 re-cert of value where the appraiser basically just confirms that values haven't declined since the initial appraisal. 

I wonder if baseball bats would work on the zombies..or maybe we should just save them for the lenders that make you overpay for appraisals,then proceed to lead you on all the way,only to "decline" your application for some random reason just when you're in clear view of the underwriter....:-)