3 leg parlay with Cavs to cover, Over on Spida points and Allen rebounds.

After this market rebound what would be your ideal return? 

The renter will be paying down the loan while you wait for the value to rebound. 

This allow us to realize a nice unleveraged return on homes purchased at a significant discount to construction cost while waiting for the eventual rebound in home prices.

So how can we be sure we are not getting the "rebound" tenants?

Once you get into the high b's and low a grade areas things change as there is definitely a rebounding home owner market developing here.

I don't think I'd have a problem selling it and breaking even, but I think it'd be wise to hold out longer until the market rebounds (plus I have this house already and I am in the process of getting the payment down so much, I just feel like I can work with this instead of starting over).

The insurance did increase and now that the market is rebounding property taxes.  

The area is still rebounding with a strong rental market in a desirable area & school system with in a mediocre city.

But the bank did say that after a month or two of payments the score would rebound by more than that 10 points because of those payments which would end up as another type of loan on my report.