I would not recommend investing expecting a significant rate decrease.  

Prices are driven by supply and demand.When there are more sellers than buyers, prices either remain static or fall until a relative balance is achieved between the number of buyers and sellers.When there are more buyers than sellers, prices rise until there is a relative balance between the number of buyers and sellers.Rents are primarily driven by property prices.Higher prices reduce the number of people who can purchase, increasing demand for rental properties and increasing rents.Lower prices enable more people to purchase, decreasing demand for rental properties and decreasing rents.Rents follow prices, but the impact of price changes on rents is delayed by 1 to 5 years.

That gives you extra income to pay down your debt faster.As you just started a new job, they may say you have to wait until you've been there for a while (eg 6 months) to get a mortgage.Keep finding extra ways to increase your income and decrease your expenses (bring your own lunch, don't buy coffee at the coffee shop, etc). 

Inadequate margin in the deal to make it worthwhile once all expenses are accounted for including taxes (usually around 40%), holding costs, selling costs (7%), split with partner. 

Because they are generally variable rates (con) but usually as you pay them down, the minimum payment decreases (pro).  

You will even see a slight decrease in bookings if your home happens to not have a hot tub, there aren't too many that don't, but if it comes down to it, there is data to support one with will do better. 

We had to change to a method where as soon as we get a property under contract, we look for the lender with the best buy-down rates.Based on what I am seeing, I believe that as soon as there is any decrease in interest rate, housing prices and rents will increase dramatically.Matt, I hope this helps.

If you take away the bigger living room and add a bedroom, you decrease the value of the actual living space.

Thats a big part of it.. but also the owner with the low rate can very well suck it up and just stay put and as you say that will decrease used inventory..

I think when neighborhoods deteriorate from too many slumlords property values decrease, which hurts investors as well as communities.