The 30-year mortgage rates in the US barely creeped up this week, but they did.  What I am seeing across the country right now is smaller real estate investors with managed properties (rental units) looking to get out of their investments at below market prices - especially in lower income areas.  While conventional wisdom says that the rental market will strengthen during such a lull in the real estate market and increased foreclosures, many landlords are beginning to fear their tenants ability to pay rent.  In addition, many are stuck in leases with tenants where the building pays for utilities - all of which (gas, electric, water) are set to face significant increases in cost this year.

All that said, this may be the perfect time to be getting into the rental business.  If you can find properties in growing areas that are discounted additionally to the already poor market conditions, you may have a great opportunity to make some money.  This is especially so if you are insulated for a year or so with decent cash flow.  Take a look at these properties in your area and see.