RE has not seen any real impact yet, and from what I think it will take some time, so I wouldn't invest in an unstable market with no price savings especially when I anticipate some market decrease in the near future.

It's hard to anticipate where we'll end the year because it's so last minute, but we're surviving.

I have a meeting with the son in a few hours, and don't anticipate making an offer today because I need to get a copy of tax returns and other financials first, but given the short window of time to act, I need to be ready to make a move if everything looks good.

I didn't anticipate this much feedback so fast!

I've been keeping notes in anticipation of starting this thread, and I imagine I'll be caught up to real-time in the next couple weeks.

Problems and headaches to anticipate?

Your ability to anticipate, recognize, diagnose and resolve problems will to a large part dictate your success or failure in not just real estate investing, but in your personal life, as well.If this were all easy, everybody (as the saying goes) would be doing it.

We bought a foreclosure for our first rental and spent much more $ than we anticipated, but we redid EVERYTHING that needed doing to make it solid and clean.  

I would not anticipate any "major" repairs ($1,000+) for another 3-5 years.

and the property has been negative cashflow for the past 3 years not including insurance and property taxes2013 income $15K, expenses $15K2014 income $19K expenses $21K2015 income so far $13K expenses $26K - granted they did alot of repairs and paint to get the property ready for sale. but even at $13K for 1/2 the year, at full year the rent is roughly $26K, $12,400 short from my anticipated gross annual rental income.I've heard of people on the podcasts and here on BP where they've turned around poorly managed properties, but since this PM is the same as my property's PM, and there really isnt that many PM in the area that are competent, and this property is negative cash flow for three years and its owned free and clear.