If they have not, many landlords will give bad references and it will backfire on the tenant.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

Quote from @Jake Andronico: @Alan AsriantsReally not that bad (in my experience), and most people aren't willing to do it.

@Ronald Rohde, sounds like you had a bad experience. 

Many of your main TV companies won't pay a claim on a property vacant for more than 30 days.8) Renters Insurance: how are you going to get S8 tenant, who qualified for the program via a string of bad financial decisions, to pay for it?

It's like Whack-A-Mole: don't think about bad things happening until they do, then panic and run to BiggerPockets forum for advice.

Quote from @JD Martin: I can't speak to rates - I think eventually they come down out of sheer necessity - but as far as the economy we must be living in an insulated bubble up here in Northeast Tennessee; no one has bothered telling us the economy is bad.

I am really inspired by people who a take something that 95% of other investors would pass on and make it work exclusively for them through sheer will and creativity even with bad market conditions. 

If you do not have liquidity keeping money liquid in stocks has value, whereas if you do not need the liquidity then yes recasting the mortgage may not be a bad idea. 

Good/bad ?