I agree with Dave that many people may choose to sell their house after the principle is reduced but I guess that won't lower neighborhood values anymore than bank-owned sales do.

My rental properties have ALWAYS looked the best in the neighborhood.

This saves you time for the really profitable aspects of real estate investing.While all bird dogs are not Realtors, Realtors have a huge advantage over non Realtor bird dogs, for obvious reasons: They have access to the local MLS, FLMS listings, they know the neighborhood, they know how long the homes are on the market, they know what buyers are looking for, they know what it will take to get it in resale condition, they have access to motivated buyers and sellers or can find them for you.Without motivated sellers you can't put together real estate deals.

I'm heading toward closing later this month on this property and though I think I've got a decent deal here, a second opinion would be appreciated.I've found a SFH in a decent neighborhood, 3 br 2 bath, garage has been enclosed, 2 carports in the driveway.

Mathew, you would be correct that these are not the nicest of neighborhoods.

The house is about 1300 sq ft in a lower to middle income neighborhood.

You can locate reputable professional contractors via NARI or Remodelers Advantage - 2 national professioanl organizations.

The neighborhood is not the greatest (but we don't have murders, killings, etc...) it's just a little lower end.

This scammer sold two properties in some really rough neighborhoods for over 300% above market.

The market IS down, and there are properties that can cashflow quite well & are in decent neighborhoods.