RE is not a market with great liquidity or with substitution (1 house is not exactly the same as another compared to 100 shares in a company being the same as 100 shares of the same company).You do need to know your market and you do need to adjust to local conditions as they change.RE prices do not fall all that rapidly.

Other comparable rentals.

Personally, I *hate* carpet in rentals... hate cleaning it, double hate replacing it-- so we get rid of it asap in all our units-- ceramic tile if the rents will support it, refinish hardwoods if they're hiding underneath old carpet, sometimes even laminate (not the cheapest stuff... doesn't hold up to water).

Doesn't sound too good EXCEPT the old house sits on a 1.3 acre lot where zoning is for .25 acre lots if connected to public water and sewer.

That's the difference between living in the overbuilt hinterland of Eagle's Point, as compared to world class theatre and gorgeous parks in Ashland.

Will tenant pay for all utilities, including water/sewer?

. $5B a month in buying capacity is at the higher end compared to most of the bottom feeders. 10% of Countrywide was sold for $2B and they actually make money on their loan book.Under 5% of the mortgages are in default.

I like all the answers, but like taking a swim in the water, you have to know what market you are in.

Not because i "didn't apply myself" but because what they were teaching was so watered down and regurgitated from the previous years that i was deathly bored of it, and a piece of paper (diploma) simply was not worth it to me.

That said see what he will really take and compare that to what Fair Market Value would be.