Consider playing it safe if you are new to the game. 

I would say just look into your game plan.Whether to keep it as a rental or not would depends if its a cash-flowing asset.

Being out of town owners will make it hard to view the home and establish rapport.

CL was the only real game in town for a long time, but the usability has always been pretty crappy (the previously-mentioned flood of listings for a single apartment, lack of ability to search in more specific areas, etc.) 

It is a numbers game and you have to play it often to find that one deal out of 50 that will be an equity packed transaction.You need to find an agent that can trust that you are not just using them. 

Its all about YOUR risk vs. reward tolerance, and personal goals.I personally would say unless you have already amassed some equity and cash reserves sell now and go  do the same thing again then you will have $70k then again and have  $105k and so on...keep doing what you know how to do until you have enough cash reserves to get into the long term buy and hold game and can afford to weather any storm that may come along.Good luck.

I have been dabbling in real estate since 2004 and I am ready to up my game!

I'm going to use one property to establish a line of credit.  

Hey All,I'm new at the flipping game and need advice on estimating rehab costs with REOs.  

If you're interested in purchasing your first property but you're worried about the bubble then you have 2 choices:Stay out of the game because you won't be able to sleep @ night, worrying about whether the property you just purchased is going to loose all it's value tomorrowDevelop a strategy to purchase distressed properties.