[tommy2]

I'd buy. Breakeven period is usually 2-3 years, so worst case scenario you breakeven on a buy.

Hire a buyer broker (paid by the seller's broker in a commission split)--tell them up front you want to find a real good deal and want to see lots of units. A young agent will probably be more honest and more willing to shuttle you around than an older one.

Look also in the RE section of the local paper, especially on Sundays. Usually pretty good articles in there about the local market dynamics.