Ideally I'd like to buy and rent at least a couple properties while prices are still low, and build equity between the rent and the (Hopefully) rising value of the properties in the next few years when I expect the market to go up.

The lowest rate will rise from 10 to 15 percent.

He made up to double the purchase price selling the properties on allegedly inflated appraisals (the appraisers had their licenses suspended) to investors that he would then buy the properties back from on land contracts and then rent them out at rents that would not cover the mortgage payments.

Inventroy levels are rising.

Do you think QE2 will work, or just create inflation?

If you're looking at comps from 6 mo. ago then your number will likely be inflated, things have changed a lot since the tax credit went away.

Look at bthe history of the town, rising up from a desert, to the number one tourist trap, to the rate of foreclosures today.

I'll be busy paying my inflated insurance premiums so that others can improve their property after fire loss.

It does seem like we as investors all too often are willing to continue to try and find ways to pay more, in order to get the "Deal", while the risk to the investor (as you pointed out in a very clear way) continue to rise.

Again broadcasting a number, especially one that could be inflated, will reduce interest.If the wholesale deal is really a retail play (very light rehab or no rehab at all), then I might put price out their because that is expected by this target market.