Loans and brrrr during the next crash

[Ivan Fence]

I have 2 properites under rehab and need to borrow more money to fix it up properly, but i am not sure how smart it will be during a downward spiral in the economy. My plan was to BRRRR and refinance once my properties are fixed and rented. If the housing prices drop 50% should i still refinance or wait for "better times" ?

None of the properties are rented.

My income comes from regular jobs.

Housing prices are still high, but i will think it soon must have reached it limits. Everything else in the economy is going down.

The govourment in my country says it could take years for the economy to get back on track.

Should i keep lending money from banks during this time and try to grow, or is private lending better? 

I have heard stories about people having big loans and then the bank goes bankrupt and sold to another bank and then they want all of the borrowed money back in a really short time. 

Whats the worst thing that could happen?

I apoligize if this has been answered before. I try to listen to the BP podcasts, but i work almost 2 fulltime jobs so i have little time( which is a good thing)