This past week he echoed the administration that we are not in recession when he's used the standard definition for it in the past.

Here's a summary of the reasons: With inflation now in the 2% range, the Fed needs to lower interest rates from their current "restrictive level" (Powell's words) to prevent a recession.

I made millions of dollars in the great recession b/c people used excessive leverage and lost properties to their lenders.

I did well over 800 loans in sojac So the recession got you really bad?

If there's a hole, it may be a red flag.b) sensitivity analysis: I examine all the assumptions, and make sure I can live with the worst case scenarios.c) "Stall and see": if they are getting money over multiple years, and there is no penalty for investing later, I would usually wait so I get some real performance data, versus having to look at theoretical pro forma information.d) Recession stress test: I will not invest in anything, until I subject it to recession level stress and see if I can live with the result.

STRs are recession proof, I thought?

This shift warns of potential hardships if a recession leads to widespread unemployment. 

., while John has a lot more experience than I do, and no real estate investor wants to be a restaurant operator, there are some upsides to Option 1, as I see it.The lower base rent could allow the Option 1 tenant to remain open throughout a recession, while option 2 may decide to close down the sales drop, if rent is too high.But beyond that, are a lot of factors that I would assess:Who is the actual guarantor on each lease?  

The 2008 recession and economic crisis caused many millionaire investors to lose everything in 2008.

It is my initial reposition instinct for all the reasons @Dave Foster and @Kevin Sellers point out.I just don't like the idea of so many of my proverbial eggs in so few baskets, or not being as familiar with the asset class, and the looming recession we are over due for, combined with not necessarily having much location knowledge, if buying in a secondary/tertiary market that I have no direct experience in.Also, it seems like the primo NNN lease assets, get snatched up before they get posted on loopnet or crexi.