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How do you find if a specific property is in distressed?

Looking thru craigslist now but was wondering if there was a more efficent way to do this.

What would be a good site to look for places to rent? Or would we have to get a realtor to show rentals?

Just feels bad when you aren't trying to time the market or anything and your property just does a huge nosedive after you get into it. Timing sure is everything.

Wished I had found this blog prior to me purchasing my home. But this is my question I bought a home in Irvine for $700k 80/10/10 on Feb 07. 3 bed 2.5 bath 1600 sq ft. Making the payments is not a problem at all. Now that the market the way it is what am I suppose to do? Do I walk away or...