thanks for taking the time to discuss with me guys i hope i don't seem to balky in your eyes ;)

I've done a little research in Mesa as well as I've been eyeing the market there and have found that it's still possible to find deals where the used homes are below replacement value as well.

There was a giant pit in the middle of the living room, a hole going down two feet and the opening was around two feet square.The bank had let a homeless woman and her daughter live in there to "keep an eye on the place."

It's not that I'm predicting a crash anytime soon, but I was hoping to find some data to keep an eye on to know when to sit on the sidelines. right now, I'm using case shiller indexes of affordability, but was hoping to see if there were better indicators.Thanks in advance.

Keep your eyes on subdivisions up Baker Road in the 30144 zip code.

In the eyes of most responsible lenders, rushing through their due diligence in order to get a deal done isn't worth the potential headache down the road if something gets over looked. 

Network, volunteer in real estate and community groups (like habitat for humanity or neighborhood redevelopment groups), always keep an eye out for opportunities.

Until then I suppose I have to network as much as possible and keep my eyes and ears open!

One tip that I picked up here is while you are starting out and saving money for your investments, start driving / visiting areas you would like to invest in so you get a feel for prices, rents , house conditions etc, and visit and look at lots of homes and open houses so your eye get used to looking at repairs / upgrades that are normal in a particular market.

Even if they fixed the problem they intended to fix... they CATCH a buyers eye and make them think "somethings not quite right".