But recessions are a necessary part of a healthy free market economy. 

If you can verify the funds you used for Y (HUD showing cash-to-close, receipts/invoices from contractors, etc), you may be able to get Y back as "cash-out" if you are at a very healthy LTV. 

That's a good example of a 'healthy' mortgage market albeit fairly astonishing that banks would consider the revenue data accurate and consistent enough to lend on.

For now, read all you can and focus on acquiring enough capital to be able to make a good start with a healthy reserve buffer - don't spend everything you have on your first deal, you need a little cushion for the unexpected.

I want the company/companies that deliver my money to be healthy and long-lasting, not go out of business because all of its customers robbed it of a few pennies enough so the entire enterprise fails. 

It sounds like you have a nice healthy pool of propsects to select from, choose the ones you think will help you keep the place clean and fresh.

Now, of course a smart home buyer will come with 830 FICO or above, with very healthy DTI ratio, make an offer on a house he can easily sell to a mortgage company, so it can be financed.

To me, that means healthy, sustainable growth with plenty of opportunity to find qualified renters for buy and hold.

However, that's all predicated on a healthy economy.

Seems great, like a combination of vacation rentals and marinas although I'm coming more and more to have a healthy respect/caution for losing your hat by not being the owner.Bill Gulley You definitely bring up great points about the cost of boat ownership...it's actually what dissuaded me from getting a live aboard when I first moved down to Portland.