If you're too soft to deal with tenants, or unskilled at marketing your property, then it doesn't matter if you live next door to the property - you should probably put it under PM.

Definitely a balance between the economics and soft skills.

by not being stern and acting by the letter of the law, tenants will see you soft and further *attempt* to take advantage of you.Don't let them do that. once you put your foot down, they know they can't stretch things, and have to let "other" payments slide, but not the rent.Counter to intuition, this won't make them leave, it will make them respect you for enforcing the terms of the contract.FYI for those offended: I'm a hobby landlord turning pro. :) 

If the market is soft then you are in a hole so timing is everything.

If you know your credit score you quote it to the potential lenders and they can provide conditional quotes and/or do a soft inquiry. 

Cheap market, but the fees/additional soft expenses drive me crazy, and you always see them at the VERY END!

There is also the soft heart aspect of this for me, where the buyer is a single mother with two children and this will be her first house. 

There is also the soft heart aspect of this for me, where the buyer is a single mother with two children and this will be her first house. 

I like the Wack a Mole analogy.. if I think back on my career in this game that started in 75.there were all distinct and different events that perpetuated a slow down or price compression in real estate75.... coming out of VN war  soft economy83 - 85  sky high mortgage and interest rates  ( SL crisis  but a lot of money was made picking up those deals)89 to 92  in bay area  Earth quake and war.. prices in SF and bay area compressed 20 to 50%  ( we have short memories.) but that was also pre high tech.2000  dot com bomb  short lived 2001  Bin laden short lived07 to 2011  global credit crisis worse i have ever seen or I think any one basically living ever saw.. worse than great depression in many areas...

HUD 223(f) can do 85% LTV (minimum), 35 year fixed rate, non-recourse, but there are more soft costs involved and timing is longer than Freddie SBL or a bank.