Often you have wage hikes or inflation, or hyper inflation, or booming economies or depressed economies, or higher unemployment rates, and the list goes on.Wall Street and the large banking institutions had a huge impact/role in the 2002-2007 housing boom and in that same time, interest rates went up.

When you reference top 1% of wage earners is that pure wage/commission/paid for services/flips etc.

I wanted to get feedback on if I should do 1 year lease with a penalty for leaving early or stick to month to month in-case things go south with this 1 income earner. 

I once took an ex-tenant to court, got a sizable judgment as well as a court order allowing me to garnish their wages to collect what I was owed. 

The eventual goal for a lot of us is a change in mindset, a move away from the W-2 wage earner world of thinking.Here's some specific books that I think a majority of the community would consider required reading:Think and Grow Rich - Napoleon HillRich Dad / Poor Dad - Robert KiyosakiThe Richest Man in Babylon - George S.

They each have fairly low wage jobs, but are well above the 3x rent level.

Research  The wage rates for the positions you want to hire, in your area.

We have a small older property in Colorado Springs, we are able to rent out at fair price, pay cleaner living wage and maintain a profit.

Banks/lenders want stable W2s for a high earner, the more you make/acquire the more they will lend to you because they see less risk.   

Many doctors and dentists and high earners have gone broke because they are smart in their day job and tremendously horrible with money.