What kind of rent fluctuation can you see in a recession? 

Which is easier said than done, because your income probably fluctuates already, plus Covid-19 makes everything uncertain.

Much more accurate than randomly grabbing at properties today and asking "will it" be good, fact is no one in Mpls market can say for sure 100%, it's just more so that those of us who have worked this market for a long time have a certain gut-feel for the area, short term market fluctuations don't bother us, we "know" the area/market and are ready to take that risk and roll with the punches, adjust on the fly, turn lemons into fruit punch freezies, lol. 

@Robert Coulstring You'll have to provide location, age of the building, and number of bedrooms to get a decent answer, but even then there can be significant fluctuation.

There really are not any fixed costs, they all fluctuate depending on each deal and more importantly, your structure.How do you intend to "wholesale a property"?

In downtown that can be as granular as block-by-block market and rental value fluctuations.

market fluctuates upwards. if you're cash flowing, invest now

Cap rate could also be deceiving as rental income fluctuates due to several factors: market conditions, regulations, management/owner knowledge/experience, and others...If you are looking for a healthy cash on cash return, you would need 200-250bps of spread between the bank financing and going in cap.

Appreciate your response.Hi Jeff- HELOC is a great idea my fear is the fluctuating interest rates, especially since interest rates are so low right now I imagine the only way is up for interest rates. 

The market values fluctuate all the time.