Perhaps Ozzie Jurrock says it best –
So what should we do?

“First of all understand your personal objectives, make a plan and write it down. This is important. Decide if you are a flipper or a long-term investor. It will force you to think. Buying downtown, you are really not buying for cash flow … you are looking for capital gain … you are a flipper. Can you carry the negative cash flow, if you can’t flip for a few years? If you look to be an investor for cash flow, go to areas – good solid areas – where rent to price ratios make sense and a tenant buys you the property – literally.”