And, even though the price point for entry is comparatively low, it requires you to be an expert at deal analysis, rehab estimation, marketing, negotiation, creative strategies, and multiple exit strategies.  

Here's the breakdown of each scenario:Sell: I bought the house less than a year ago for 150K haven't built much equity, it's a city neighbohood where comparable homes can range from 100k-200k.

You have to look at recent sales and make comparable offers.

Not having an Agent - is a mistake in my opinion, they will help with Good vs Bad Areas, price comparables, setting up contractors...but you need to find a Good AGENT.Thanks, Brent Byers

Any critters or other movement could expose the wiring within the walls/ceilings with palpable risk of fire.  

Will I have any trouble getting the house insured at comparable rates to a house that would have other wise been under my personal name?

Since I'm in California, I'm looking to actually invest outside the state, because of the high initial capital I'll need to pony up, compared to other places.  

Definitely compare what brand of equipment each is using, a Goodman is going to be a lot cheaper than something like Carrier but will most likely give you a lot more trouble.   

@Benjamin CowlesI think the short answer is just because a lot is owed on a house compared to what it is worth, don't overlook them. 

Using Vancouver as a data point to justify Toronto'a comparatively calm market is self rationalization.Yes, the divergence of real estate prices to the underlaying economy may continue for a few more years and, if folks are fortunate, it will gear down slowly on its own with only a small retrenchment in prices.