> To each their own, but most of us buy and rehab or otherwise get a good discount to market, so not sweating a drop too much, especially w/ cash flow..

When you're dealing with higher priced markets, this can easily drop to the 1-2% range.Lots of details in that generalization, but a $100k house in one area has roughly the same maintenance costs as the same house in a $400k area.  

Even with now 12K cash flow, the unit is worth now 80K and a drop in price of 20%?  

There is plenty of pressure, preventing rates from dropping further.

The low income housing has kind of dropped in price and giving a lot of investors grief on trying to refinance/sell.

Don't you know or remember the little disclaimer phrase of "RESULTS NOT TYPICAL".I have had some short sales where the 2nd position dropped out and the first really went low as well.

Feel free to drop me a line and I can fill you in!

I don't think you need to buy at 70% of a discounted value, rather, I would recommend that you buy at a wholesale value, 50-60%, in an area of town that you know, through some help with a realtor and MLS data, that the rents and values have not dropped as much as in other parts of town.With gas at $4 a gallon, it does not take a rocket scientist to figure that if there are more jobs downtown, people will want to live closer to downtown.

That means the dollar drops a lot more and oild rises even higher. 8)

It has a drop ceilng so I have access to the top 10" or so of the walls.