Where's the unseen risk in long term buy and hold?

[Jason Underdahl]

I'm looking for any insight into a blindspot in my portfolio I may have. I own a few single families, duplex and fourplex in MN/ND. Mortgages vary from 20 year loans we will redo in 5 and 10 to a 30 year fixed. Interest rates are all around 5. Properties are all C class properties. Cities are all very stable supported by agriculture and manufacturing. My business partner and I each have stable average paying careers. Short of total economic collapse, which our region is usually the last to feel, and major maintenance issues, where am I susceptible to getting into trouble? I know this is a vague question with a lot of variables, however there is a lot of talk about coming recession. Other than things getting incredibly tight cash flow, how are long term buy and hold investors exposed to problems similar to 08? At this time I just don't see it, however I started buying in 2010 and have yet to live through it as an investor. I feel like so long as you can support the properties through lows it really shouldn't matter as long as tenant base is there. Any insight or discussion is appreciated!