I would label myself an astute idiot in this regard- knowing there's no possible way I (or trump, or buffet, or bloody Stephen hawking for that matter) could predict what's coming in today's economic environment, I completely forsake capital gain predictions and speculations, go for utmost cash flow, spread geographically to hedge risk, and get the best property managers I can get my hands on, to ensure maximum vacancy regardless of market conditions at any time.

If you really want an incredible unbias analysis of the market place, read the following from the Arizona State University Real Estate Dept & Economics.

Interview: Appraiser Who Brought Down Countrywide By Isaac Peck, Associate EditorThe U.S. housing bubble and the corresponding real estate market crash of 2007-2008 brought about one of the most severe economic downturns in America since the Great Depression.

I agree that inventory levels have dropped and property values are increasing, however, we are still able to find many good deals in the greater metro areas.Atlanta is one of the largest markets in the country with a population between 7 to 8 million people.

I knew it was a great rental market (60% rental in the city as opposed to 40% owner occupied) and despite the population trends and Kodak I knew from living there that there was still economic development and growth.

I am now contemplating whether it would make economical sense to pay off the first multi-family unit before purchasing a second one.

Understand, I have a degree in Int'l Marketing, taught it at one if the largest biz schools in the country, but was, in fact, clueless in how to make it work for me.Again, when I was sufficiently open-minded and desperate enough, I discovered how real direct response marketers work.

Mike, if you start applying economics to 2 or 3 rentals, you'll experience the law of deminishing returns very quickly.

I am an agent with two of the largest in the country - Old Republic and Fidelity National.

MHS is the largest closing attorney firm in the nation -- I've worked with them many times and they are knowledgeable and honest in my opinion.