Artificial market manipulations seem to cause more problems than they solve.

I agree 100% that the banks are only interested in the bottom line and given the rules currently in place I believe they can continue to hold the loan (asset) at a artificially high value until they actual foreclose (Create the liability of REO).

However, I am seeing that happen in many of my rentals as people increasingly can't survive on their own.If the Bush tax cuts expire (thereby causing tax increases); cap and trade drastically increases utility costs and the cost of goods generally; socialized medicine is voted in (at a HUGE cost); etc the pressure on people will grow exponentially.

Totally different story in my market.Here is the way I look at it... with FHA guaranteeing almost 70% of all mortgages it doesn't make sense to artificially limit the number of potential buyers.While FHA requirements can be a pain... as mentioned a lot depends on the lender, I have found that those investors who adjust their business approach to deal with FHA buyers are making more then reasonable profits... quickly.Best of luck!

If there's any excess (never happens), we have to send it to the tenant.Certain things must be given to the tenant free of charge like medical equipment, medicines, etc.Wisconsin sucks.Mike

Frankly, I'd also get pictures/videos of whatever's inside the medicine cabinet given the cost of prescription meds these days.The second to last thing you need is a lawsuit from the deadbeat stating that you took revenge on their stuff.

Not the ones that are too busy studying medicine to know about anything else ;-)

That's partly why the idea of trying to be independent off the bat interested me.I've thought about doing medicine and then specializing and doing something neuro-related (the brain interests me).

But don't disparage the smart people who aren't satisfied with those kinds of answers.Thanks to those types of people, you have modern medicine, modern transportation and pretty much every other technological breakthrough this world has ever seen.Again, there is a big analogy between ignorant people and people on welfare...they both look to the rest of us to make their lives better so that they can go through life not realizing what else there is.

As I responded to this in another thread...It's now been over 40 years since socialized medicine became a core part of our country's medical system (Medicare implemented in 1965), and yet most of the predictions Reagan made on that record haven't happened.Which leads me to believe that Reagan was incorrect in his assessment.