If rates rise and economy slows

[Mike Migliaccio]

What is the downside to purchasing a multi unit (28 units) building (currently approx 90+% rented),  if rates rise, and the economy slows? I heard on podcast 3 that the guest lost millions in the 2008 downturn. I am guessing that can only be due to be over-leveraged ..or having tenants move out leaving the investor to pay the mortgages. Can anyone comment on this type of a scenario as we are currently looking to invest approx $2.2MM in our second multi-unit apartment building and don't want to make a mistake with the likely hood of a rate rise etc. Thanks 

Mike