The others may seem dry as a bonebut I just don't want any late night calls that I need to get over therebecause the basement has water.Since they're all unfinished, nothing of mine can be damaged unlessthere's a significant flood in there.Basements attract water and water is truly the enemy.

I've done lots of dry wall and plastering.

Newer homes are built to hurricane codes and cheaper insurance, (no Chinese dry-wall).

I definitely feel you on moving to a warmer state, but I love the dry climate and honestly it's some of the best weather I've ever experienced

It was a dry rail bed that people had used for hiking and biking for decades.  

I checked under the tub and it looks dry and the water to the sink has been turned off so I'm sure the leak is coming from the sink.

I currently own 4 properties (8 doors) and am feeling the cash flow opportunities dry up here too.

An eviction + a major repair can go through a cash reserve very quickly.HELOCs can quickly dry up during a crash leaving you with a property that you have to sell in a down market to access the money.

Keep your powder dry.

We still did a lot of the work, but less than half of it.Some of our goals for 2010 include:1 - Execute 5 flips this year2 - Network with similar real estate investors3 - Bring on 1-2 more deal partners4 - Meet more contractors and develop a complete team of go-to players and reduce / eliminate us doing the rehabs5 - Learn the short sale game as the good REOs seem to be drying up.6 - Improve our web presenceThanks for reading and I look forward to meeting like-minded investors.