Hi everyone from BP,Here is the description of the house:Bungalow235k, I will need to assume his mortgage (219k)13 rooms (I can add maybe 2-4 rooms)42k revenue (I can boost it to 46-50k)This house has all the permit and everything to run that many room.

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Some, like mostly urban Fulton, might have dramatically higher eviction rates than a bedroom suburb like Cobb.

What I get in return - a significant boost in my rental portfolio (cash flow) and the pro business tax perks.   

If the refinance loans promised to borrowers were not available in the future -- well, that wasn't the mortgage lender's problem. http://www.responsiblelending.org/media-center/press-releases/archives/spin-and-outright-lies-on-cause-of-economic-crisis.htmlBUT HERE IS WHAT DUBYA'S GROUP SAID IN 2008:'The "turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for U.S. subprime mortgages, beginning in late 2004 and extending into 2007," the President's Working Group on Financial Marketshttp://www.mcclatchydc.com/2008/10/12/53802/private-sector-loans-not-fannie.html#ixzz1UC8M7o1g

The difference is most dramatic with condos since banks will making conventional loans with too many rentals. 

But addressing your original thought that this might be up and coming, I'd say no way, I would definitely not buy here expecting to see dramatic appreciation or improvement in the tenant applicants. 

Of all investment opportunities available, and I partake in many, my real estate investments are something I want/need to dramatically improve upon.

What a confidence boost.

Expensing even small amounts can result in a dramatically lower retirement balance years down the road.