There are only 2 ways to deal with a downturn: keep your powder dry and when you see blood in the streets, buy!

The Fatal Conceit: The Errors of SocialismThe Misbehavior of Markets: A Fractal View of Financial TurbulenceKeeping at It: The Quest for Sound Money and Good GovernmentThe Black Swan: The Impact of the Highly ImprobableAntifragile: Things That Gain from Disorder (my personal fav) The Courage to Act: A Memoir of a Crisis and Its Aftermath13 Bankers: The Wall Street Takeover and the Next Financial Meltdown

I'm sure everyone is actively watching the news and their impact on mortgage rates.I'm personally losing sleep wondering if I can save more by waiting, or should I just lock in the rates today.For those of us with loans that are well above market rate, the question of the day is: Will rates continue moving down from here?

@Jarib RivasThis is difficult to answer because there are so many real estate markets in the US and each are impacted differently.

I have good credit (800+) and want to keep it that way....For everyone that takes out 3+ HML's a year, how have you seen this impact your personal credit score?

Inside the City of Wilmington the way they're working around this is to provide tax abatement for new construction, but that only impacts your City taxes as far as I'm aware and not the county/school taxes.

Keep in mind also that any remaining tenants will also be impacted by the abatement, they most likely won’t be able to stay at the property.Is holding for 3+ months without those renters and on going projects feasible?

Every market is different, locations within each market will have an impact on value, and of course the age and condition of the home will have an impact as well. 

Money can change people, and you don't want to find yourself in a position where you find yourself putting in blood sweat and tears into the property rehabbing it/managing it and feeling like you are being short changed because your friend "promised" you a x% cut of the deal.

What will she want next...Then again she is section 8 and the way that works may impact what she is asking.