I don't know about you, but in 30 years I'd rather be sitting on a million-dollar asset that I own free and clear (because someone else paid it off for me) that is generating multiple, multiple times the rent I was collecting when I first acquired it and in which I can fill a vacancy with a qualified tenant within two weeks because the area is so desirable that it can't keep up with housing demand than on some boondocks asset that I only purchased because it was the cheapest thing around and "cash flowed" $200 per month on paper but barely appreciated over the years and whose rent appreciation has marginally kept up with inflation and takes me three months to fill a vacancy with a "qualified" tenant who even then might get behind on rent because his hours were cut at the gas station 30 miles away (true story; my tenant worked at a gas station in Boron--only job he could find).Personally, I'm keeping my 4-unit in Santa Clarita and investing in development deals and notes until an incredible off-market deal lands in my lap (keep dreaming, Logan) or the SoCal market cools.  

If you have a cell phone you have no privacy.I am Not talking about an owner occupied borrower who lost a job but can go back to work and a lender gifts a modification.Many of these subject to deals with investors the original borrower is not paying, the sale price is inflated, there are seconds and thirds who won't have the money to payoff the first, and the "investor" has no reserves or team to deal with: code violations, a fire, non paying tenant, is far away from subject...

Agree that’s it’s so inflated that when other mom/pop or ppl at bars start talking about it, I’m pumping brakes on my purchases.

Money has inflated, rents have gone up, but your mortgage is fixed. 

Inflation is real and even appreciation equal to inflation produces a good return from appreciation when leveraged.Virtually no one starts with a perfect initial property purchase.  

But with mortgage rates the way they are and with inflation high do you guys think its a good time to buy?

Demand will continue as Millennials grow their families and make more money because inflation caused them to make a higher dollar amount to buy less.

Hey mate,Sorry to hear about your troubles but it's not too uncommon.I've been in the turnkey biz for 10+ years now and have often been called the "bad guy" as we only sell to investors looking to purchase with cash.Many believe that because we only accept cash buyers, that we inflate the properties price which definitely isn't accurate.Quite on the contrary when looking back I feel that we under sold them lolWe can justify every one of our property prices with a CMA independent of our in-house sales.Whoever believes that financing a turnkey property makes it safe is wrong.Most turnkey providers or affiliates push the financing model (Even in today's high interest environment) to make more sales.They have "in-house" lenders or community banks that they establish relationships with and promise large volumes in loans.This in return get's rewarded with various favors and many are easily able to manipulate appraisals.Having flipped over a thousand properties, I know how easily an appraisal can be manipulated so for anything reading, "NO", financing a turnkey property doesn't necessarily make you purchase it for fair market value.To answer your question:When S#%@ hit's the fan like it did for you with this deal, I personally would always look to cut my losses and move on smarter and more experienced.Granted, over the years I have witnessed many investors buy 1-2 properties from my company and expect miracles only to get disappointed. 

This cheap money approach was the main reason for inflation that forced the Fed to increase interest rates in order to bring the inflation back to normal.

Inflation is still to strong and unemployment isn't high enough.