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Hope this helps,
A lot of speculative investors have cut their negative cash flow and negative equity losses by letting rental homes go to foreclosure.
The high inventory of homes in good condition makes flipping a no or low profit enterprise.
Buy and Hold strategy should be very rewarding as we will bottom out in 2008. Buy low in 2008, then sell in 2010 or later. Make more money with less risk by buying with the intention of holding for several years, earn appreciation and future cash flow.