@Mark McGarryI pay it only when the invoice arrives.

Find a RE broker that owns property and has been working full time in RE for at least 10 years, ( from before the market crashed) this way you'll know they are knowledgeable about the process, area, and investment properties!

I believe if you purchase your house as if it's an investment property (purchase it according to market rent) It doesn't really matter if the price drops, you could be under water if the market crashes but your payments will be the same if the loan term is fixed.

The local credit union I'm working with to finance the deal has performed a $450 "real estate evaluation" (i.e. off-site, desk appraisal) on the property and arrived at a value of $110k.I questioned my LO about the appraised value and they admitted the scope of the appraisal was to formulate a "liquidation value," not a FMV.

Finally, I was a president of my 5 unit townhouse/condo in roger park, and it was very interesting in how we had to raise our HOA fees in order to meet capital expenditures...it seemed like when our toilets crashed or went away to toilet heaven, all of the others did too.  

The burning desire has arrived.

As an example, here's what one lender has to say on the matter: Understand your HELOC Freeze or Reduction.I've heard of borrowers who had their credit limits reduced when the crash happened and housing values plummeted, but I haven't heard of it happening to anyone lately. 

We lost our home in the 2007 crash to foreclosure and we felt so alone.

How are you savvy BP investors making money a hot market, bidding quickly on deals, and not overpaying (before a pending crash)?

We are brand new and are in the process of gathering all the data to arrive at our maximum total offer allowance.