And in an economic down swing such as a recession you could see your building go vacant for a long time.

Moreover, we're due for a significant recession, probably in 2010.

Latest reports are (I'm summarizing here) that we've been recovering for a few years, and it's picking up steam. 2014 should be even better economically for Vegas, and estimates are that we should be back to pre-recession levels by 2016.More reading:http://lasvegas.cbslocal.com/2014/06/17/report-economic-recovery-not-slowing/http://www.8newsnow.com/story/25799311/report-employment-in-las-vegas-will-rebound-by-2016http://www.lasvegassun.com/news/2014/jun/17/report-las-vegas-area-employment-will-rebound-2016/That's good news long term for the stability of our housing recovery that's occurred.

Having been through recessions we knew that southern California is always the first to rebound, and wanted to be out in front of the market, so we relocated; and I'm so glad we did.

Like everywhere, SF went down during the recent Great Recession, but most neighborhoods were down 10-15% while most other cities were down 30-50%.

They are listed for less but require a lot of repairs and also have multiple offers.Should I just stop looking and wait for the next recession/crisis/whatever for the sellers to become more motivated?

College rentals are more recession proof than other rentals because every year you get an influx of new students (target renters) and it isn't so much tied to the job market, income gains, etc.

Student debt cannot be wiped out in a bankruptcy and in fact is one of the number one items lawmakers are saying could push us back into a recession as the loan amounts are staggering.The student debt you rack up had to be weighed against job demand getting out and what the starting pay and chance for advancement is.

What will happen if we go into a recession, and paying renters are hard to find?

Being in a fiduciary role for a multi-million dollar 401k portfolio and seeing the kinds of returns folks have made since the recession ended are truly astounding.