Thanks… I agree completely with your assessment, and we are definitely thinking long term, not just investment. I figure it would be better to wait, but hopefully not a long term liability if we want to upgrade 7-10yrs down the line.

Thanks to everyone for their input… I know I’m setting myself up to catch a knife, just trying to minimize the bleeding ;-), any help (besides just wait… that’s a given) i.e. rent/price ratios, specific areas to go to/avoid, anything I haven’t thought of…?

Anybody have advice on trolling for foreclosures… good resources etc?