It sounds like you know which avenue to take based on experience and risk tolerance.

It seems like a great time to sit on the sidelines and save up cash for when/if prices drop.

Suburban areas like the South Hills or North Hills do well here based on those factors.

Hey @Spencer Shapiro, this is a hard one to reply to because a lot of this is based on folks personal thresholds around tolerance, uncomfortability, etc. 

You will have no equitable interest in the property based on the Master lease, so I would suggest also having an Option contract in place to secure your right to purchase the properties.

Also, pretty much throw out the sellers numbers and do your own based on market conditions.

Little bit of a learning curve because you can customize reports and analysis based on your own equations but once its setup, its very effective and works great.James Storey, CCIM 

Just make sure that your balance is high enough to preserve equity should the market drop.

They are investor-friendly mortgages that qualify a deal based on the rental income and do not look at your DTI in any capacity. 

Thinking $150-300k properties based on what I've seen so far.