Keep renting until prices stop going down. I checked for rentals online, through the San Diego Union Tribune (you can search by area), craigslist.org, backpage.com, and then the MLS. For the MLS, you need to ask a realtor to get you a link, and then everytime the MLS updates, you get an automatic e-mail update. The MLS shows you the time on market, but for the others you will notice how long you see the same ad. Always ask for a lower price, and if they charge more than $1/sq ft, they are overpriced and no one will want it until they reduce the price. Some novice investors ask for high rent prices to cover the mortgage, but seasoned investors expect to be cash flow negative, so they price theirs at market rate. You have good karma to have lost the house in November. Keep an eye on the house, and keep us posted – my guess is it will sit on market until the flip flopper lowers it to $450K. Prices are declining, not rising, and homes priced too high just sit until the prices are lowered.