Jobs are coming into our area at a great rate, with shipping, warehouse, and other labor related fields that would create a stable landlord tenant environment. 

Interesting question - hopefully a lender answers with a current interest rate in today's environment! 

There is the option to roll the dice with an ARM but in this environment I don't think that's wise.

I was thinking to use dampeners on all the downstairs vents and leaving electric heaters and an electric AC to use if needed for basement tenants so they have more control over their environment.

I am fishing around for my first property.

Short sales normally only take a few extra months in this environment and most of the attorneys here in Illinois at least know how to work short sales now.

At the time I was working on commercial fishing boats far from home for long periods at a time.

I'm not doing that for a free fishing trip, when most homes in my market sell 5-25%....and there is not one that sold for more than 10% off in the worst condition in the past year.Might sound harsh, but people remember the 1980s where you could bargain on car prices and homes. 

I will note that there's no stability with parking cash in the current environment, but like Robert says: savers are losers, but if you don't have the education to make your money grow, it's better than nothing.

But, being I'm a small fish, if I purchased one property in a high appreciation market I'd reach my DTI limit and wouldn't be able to continue buying real estate.