I just had to spend the time it took to recover the data. 

Pleasant Grove has had a hard time recovering since tornadoes years ago, but is still a good spot. 

First time, I cashed out all my stock returns to use as a downpayment, only to have the property lose 30% of it's value in 2008 (it never recovered) and go negative cash flow.

Wow...Stay strong and don't take it personal....It will cost, but you can recover and move on..

When the correction happens, we are the last to fall and first to recover.

If the market drops, and does not recover, they are in trouble.

BTW my son just bought his first place here in California near Escondido, without my help for $349k he used a Fannie Mae loan with 3.5% down and used a bank. something I want him to pay off quickly once his cash flow recovers from the purchase.

If rents have dropped to below 2010 rates, how long will it take New York to recover? 

Your primary goal should be to recover the money that's owed to you for unpaid rent and damages, and you have options available to you to do that. 

Please God, hear this man's voice and let the market recover after the drop!