Good post, I agree with you, i do believe a correction is coming, but with investors now having to put more skin in the game and not being able to drive up prices like they did years ago with no money down products and loose lending requirements, i dont think it will happen this year maybe 2 or 3 years down the road and that also depends on what region you are talking about, we didnt really feel the crash out here and we didnt experience the double digit appreciation either , i wasnt thinking of selling when i refinanced, a few months after i did it, my tenant moved out so that got me to thinking about changing my goals, i was in a 6.15 30year loan still paying pmi, so the fixed 15yr @ 4.375 was a better deal for me, and yes counting on appreciation is not good because its not guaranteed, i may end up keeping it because I like the idea of having it paid for in 15 years.  

And yes, I am aware of all the altruistic arguments that can be given to underwater owners to make them THINK you might be trying to help them out.I have read dozens of threads from those who know exactly what to say to those poor folk, if only they could find enough of them to practice their best lines on.Here is another one of them.

There are very few areas in the seacoast a poor person can live, and the 1-93 corridor is not that much better.

Plenty of properties to purchase that fit my or my investors/partners needs and plenty of tenants to rent to and/or buyers that want to purchase my housing products....

@james And they say Turnkey is a great way to invest......I'm sure the poor pom doesn't think so.

A good mortgage broker will be able to compare and contrast these products for you.

I graduated graduate school this year, poor credit (working on it), low income this year (grad school).

To give a general idea of some of the mess they left - left it with 2/3rd of the lightbulbs burnt out, holes in 4 doors, very poorly patched holes in the walls in more than 5 locations, missing showerhead, missing ceiling lights, excessive mold, large hole knocked into paneling, enough garbage to overflow a roofing trash trailer, 2 tvs (1 stood 4' tall), cobwebs and filthy walls, excessively filthy carpet including over 15 dog male (squiggly!)

Some of your local lenders may have a portfolio product with similar terms.Once you start going with commercial loans, expect 20% down, and 20-25 year terms.

@Mike MakkarI own several other rentals and so my personal residence could just be a very poor performing part of that business or I could just pay my mortgage payment to the rental business as rent.