So dont speculate, buy something that makes sense fundamentally and look long term.

@Aaron Hunt I think that there will be fundamental differences to SS. 

It is close to impossible to time a market however there are specific actions that you can take to ensure that your strategy is considerate of where we are in the market and credit cycles.1) Buy for cashflow - this is the golden rule, if you have cashflow you can hold on to your asset2) Buy in areas with strong underlying economic fundamentals (population growth, jobs growth, wage growth and employment diversity), avoid markets that are speculative3) Focus on asset classes that can potentially do better in a recession e.g. class B/C multifamily versus Class A development4) Lock in long term financing5) Be conservative with how much leverage you use6) Build up cash reserves so that you can capitalize on any opportunitiesIt can be very expensive to sit on the sidelines waiting for something to happen, better to figure out a way to stay involved safely.

@Brittany Shearer I think it's hard to argue that the twin cities isn't a great rental market if you can get into it, has great fundamentals, it's appreciating while having the stability of a midwestern market.

If you're buying good deals with strong fundamentals, some debt is not a bad thing. 

What is your fundamental motivation? 

It's a strong indicator of a fundamental economic problem: home values are so low - based on the neighborhood and NOT on the structure built on the land - that people are not willing to pay for the structure based on where it is.

Wholesalers fundamentally aren't that different than real estate agents, and agents average about $50k - $75K per year.  

Beside that basic fundamental fact,   also consider that the majority of tenants out there know that as long as you "rent" and don't own,  you can be uprooted at any time for no reason.  

You may be able to find the same or similar in another market with better growth fundamentals.