It seems like MF syndication's value would go down if occupancy or rent collected decrease. both can happen in a significant recession. only if the break-even level is low enough then you can weather the storm.  

Installed barn doors and finished basement completely with framing and drywall, installed recess lighting and baseboard around the floor.

In theory, this becomes an asset as inflation destroys the value of the loan, but in reality you have to balance your leverage with your ability to withstand shocks to the system like recessions, local real estate downturns, eviction moratoriums, etc. 

I was wondering how members in the BP community are preparing for a recession.

In fact, during a recession, many people find themselves forced to sell their homes and move into rental housing, instead.Goodluck!

Originally posted by @John Underwood:People will just find a VR closer to home, they will still find a way to go on vacation. so does this mean that the smoky mountains are more recession proof than other short term rental markets? 

Multifamily is a strong, recession resilient asset class to be in and one that I invest in myself.

You'll see that Logan has boomed, yet investors are still flocking as the area didn't dip as far as other areas during the last recession.  

I would worry less about inflation and more about recession.

Even through the 2008 recession, Omaha slowly appreciated in housing prices, but people's behaviors started changing suddenly and strangely with COVID.