Before pulling the trigger on your purchase I would do some research on the neighborhood you're investing in.

Thanks for posting in the forums.However, we do not allow self-promotion, and posts looking for real estate agents tend to generate a lot of self-promotion from the agents on the site.We've locked this thread so it doesn't get filled with these posts, but we're not going to leave you high and dry!

There is the potential of triggering the "due on sale clause" with your lender since the property "changed ownership", but from what I've learned, if you are timely with your payments etc, the lender won't actually care and may not even know about it, so this is something a lot of people do.  

Inventories in my area are very slim and have already lost a few really nice properties as I wasn't ready to pull the trigger or couldn't schedule a showing fast enough. 

Plan on hiring someone to take out the carpets Mop: mop the floors with bleach and water and let dry for a few hours Clean: clean every square inch in the kitchen Prime the floors: get some Kilz Oil-based primer with a long-handled paint roller.

I will say this took every ounce of courage to pull the trigger...and I can't wait to do it again!!!   

The program dried up and we had to evict each. 

A combination of drying up funding, high stock evaluations, historically low interest rates, debt per households, etc. lead me to believe a sharp decline is upon us in this decade.

A HELOC will be there when you are ready to pull the trigger when you move.

I would paint the paneling.I have gone right over the top with 1/4" thick dry wall in certain circumstances.