If you purchased an investment property at $140K, would you buy in the same area at $75K?

We had an inquiry from a former client who purchased several town homes from our company in the "High Flying Preconstruction Era" circa 2004.
This investor has done very well by always doing the due diligence when it comes to seeking Real Estate investments.
I came across a new listing in a community located only 5 minutes from Fort Myers Beach.
These town homes are centrally located.
They were built in 2005.
The investor and i discussed how the location of this property hasn`t changed,nor have the amenities. The "market rents" are $850-$900 per month for a 2bed/2.5 Townhome.
It was our opinion after careful review placing an offer at $69,000 would be a great buying opportunity if accepted by the lenders.

The simple truth is many times we can`t "See the tree`s through th forest" to understand the opportunity the Real Estate market has offer.

Now more than ever it seems the bottom is here! Buying now and holding for 2 years seems like an great investing oppurtunity, providing you understand the risk vs reward ratio.

The home which sold for $140,000, three years ago is worth investing in now at $75,000.
Is it a given the market will eventually bounce back? The answer is "NO", but based on past history, it`s a good guess that in 2-3 years the market should be able to rebound and move forward above it`s current levels.