If the economy crashes 11/2020, what should new investors do now?

[Orlando Goodon]

For a new investor interested in cash-flow and appreciation only after 10-20 years (dont care so much about fluctuation before). For an investor who plans to hold everything, what should they do to protect against potential crash?

I was thinking getting a bunch of 5'% down $600k+ properties, would be bad. Would not want to be stuck holding pricey liabilities during a time when:

I may loose my job or take 50% paycut (I've see this before)
Renters might start moving to cheaper places causing cash-flow to drop
Great deals might pop up as a result but cant touch with all money tied up in pricey houses (no flips)

I think the strategy to do is, get the cheapest single family in decent area and put near 20% down
Then start saving for 5%-10% multi down during crash and pickup 3-4 units and hold for 10 years as market recovers and I can raise the rent up. Maybe make one of these a cheap flip. Try to turn a $280k multi into a $400k multi by the time the market recovers; profit on natural appreciation plus boost from renovations.

Finally would be nice to invest some cash into creating some kind of alternate income. App business or educational content or something to help deal with risks of a market down turn.