We weren't actually going to be ready for at least a year, but this insanely great deal just fell into our laps last week and we got preapproved. If it wasn't for the fact that this is going to be a situation where we have almost instant equity, and that we fell in love with the place , I wouldn't be doing it. With this deal, we could literally sit on this until the economy recovers and housing prices start coming back up, and we could flip and make 30-50% easy. It's THAT good of a deal. And the area is up and coming. It's not NECESSARILY our "dream home", but it's pretty friggin cool.