Ok... I know I'm suppose to be a hard headed investor but we are bitterly disapointed. We're in our late 50's and have decided on a strategy. The plan is to rent our current home out which is too big for us, and it'll achieve a rent that will cover our mortgage. We would then purchase a smaller and less expensive home, freeing up cash and putting us in a position in a year or so to purchase another cashflow positive investment property. We made an offer today on a unit we really loved but lost out to another offer. AARRRGH! Regretting now we didn't go a bit higher, I think we were trying to be too cold about it and it's backfired and set us back another few months. Is the strategy sound? I probably just need to toughen up.