I think that you be fine as long as you think long term.
The flippers and liar loan people will get burned. Since you scored a good deal you should be alright. Congrats.
As for me, now that I have a job that allows me to live anywhere near a major airport, after a while, my plan is to build a home on an acre of land up north and have the land and home paid off in a few years and have zero debt or mortage. Then I can wait for prices to come back to reality in San Diego to buy a place.
