I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.

I’m sure it’s in the legal fine print somewhere but when you’re on the verge of losing your house, your focus is more on the bottom line. 

If I consider it this way then we are losing money.Should I change our tax status to just LLC without S-corp because it makes it more complicated and not economically advantageous?

I started in real estate in 2005 so I saw the height of the last real estate boom and I saw LOTS of people lose a lot of money.

If you don’t want to sell you certainly don’t want to lose it to a foreclosure on a bad rental. 

I really just want to minimize my loses without having to pay the whole 3 months of rent to buy-out/break my lease. 

If the investor fails to accurately appraise the value of the asset at acquisition, you can lose money.

When the economy slowed down, some submprime borrowers may  lose jobs and cannot make mortgage payment.

Currently on a 15 year, I am losing quite a bit of money per month.  

Meaning...ok to lose a few hundred a month temporarily to get the deal ?