I have been able to track down a deal that would be profitable here however I keep hearing talk about a recession during the beginning of the new year end of this year.

Don't underestimate the recession resistant nature of student rentals.

I strongly believe the cash-flowing markets up north are going to be way less impacted by a recession than the southeast because they are based on solid fundamentals, as long as you don't overleverage you should be able to weather any cycles. 

When the next recession hits, those properties struggle more.

We noticed many shifts in the markets that made it more challenging to achieve the returns our investors were accustomed to, so we decided to pursue hard assets and realized Multifamily would be the most recession-resistant.

So your monthly payment will be higher on a similarly priced home in Nashua vs Lowell (in your example).On the flip side, the Massachusetts markets tend to do better in downturns and recession, at least if 2008 is any indication…Other than that I think markets like Lowell and Nashua have a lot in common, in the multi family space.

In an effort to learn from the 2008 recession banks have put into effect ways to work with people before foreclosing such as loan modification.

Would be great to here from some RE veterans with decades experience and a recession or two under their belt.

Buying a foreclosure during a recession didn't hurt my chances!

Yes, it took a long time for housing in Jackson to start appreciating again after the recession but it finally happened.