Short answer, we bought at a price somewhere between actual value based on actual numbers and what it would be worth when run by a reasonable operator.  

So, maybe selling is the only good game in town right now.

I've had a couple of buy and hold properties but now I'm actively looking at ways to achieve more passive income through short term rentals and multi-family units.  

In short, I think this speaks to the frothiness of the market and any system with less checks and balances (i.e. now they can just buy anything the "crowd" may not have liked) is worse off. 

Rudy - as both of you suggested that going very far (like Aberdeen) is bit to much as I won`t be able to manage it on my own and I`ll getting C & D class tenants, This idea came to me by seeing that @Brandon Turner lives in a town near to Seattle and never complained anything about tenants even though he has most of this properties in the same area (may be I assumed ) but if I am trying to find deals near to Seattle, its difficult to find and also lot of competition.what could be a better strategy to enter into this game..How can I invite other BP members to share their view ? 

Hello AllNew here to Bigger Pockets and look forward to reaching out to local investors in the Charlotte market who have been in the game for some time.

They can try to do a short sale and get money if it's an underwater asset.

I'm going to advise you to find a Local Group of Investors that play Robert Kiyosaki's cash flow game.  

The one thing all agents want is training and leads in the end, if you can provide them with this as well as the opportunity to market their brand and bring in max commissions you have a game plan that will make both you and the agent money. 

@Andrew Michael  I agree with you Andrew, if I was a hard money lender I would be looking for skin in the game.