By summer, prices should start rising again, presenting better seller opportunities.Multi-Family Properties: Values have dropped due to lower rental rates, with the best deals already seen in past years.

Quote from @Arun Maheshwari: Hi,Does the bank owned foreclosure property allows to put Inspection contingency for big issues like plumbing, eletricity etc.ThanksIf it is bank owned and the foreclosure has taken place - possibly but they would make you responsible to turn on power and water and turn it back off.

Indeed, where we pay a REALTOR commission, we are initially under water, but look at the long- term probability the rental will remain in the system.

I can't remember exactly, but I believe the main ones had to do with additional parking restrictions and water.

If I buy a house for $400k, and the market drops and the house is now worth $300k, I am under water.

What happens if rents stagnate or even drop?

.- Good luck getting them to pay their portion for the duration of their lease- Be careful including utilities in the rent as they then won't care about a running toilet resulting in a $500 water bill.- S8 tenants don['t want to pay application fees- S8 tenants cry broke about paying security deposits- S8 tenants in the program for 10+ years claim ignoreance on filling out their paperwork because they've learned a desperate landlord will do it for them.If you want a S8 tenant, you MUST advertise on www.AffordableHousing.com

NJ investor myself - happy to help you navigate these unique waters! 

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However I have had to replace some major appliances recently which had put my in the defecate and added to my motivation to sell (Hot water heater, two refrigerates and a washer/dryer).