Is the market at a point that this makes economic sense. 

My long term real estate goals for this area are to be influential in helping figure out our low income housing crisis here, so it would be awesome to connect with any like minded people.

@John Woodrich, many colleges have real estate investing courses, usually in the department of Economics and Finance.

I suspect Vegas has close to the same economics. 

That only happened in the past few years in FL because of the 2008 crisis.

Is it in a growing area or is it in a successful town/area that also have good economic diversity, population growth?  

What are the major macro economic factors that attribute to your attraction to that submarket? 

Also, according to many 'experts' out there, we're near the peak of our current economic cycle and a recession is around the corner (12-24 months or so).

Then if X or Y happens, I've thought through the matter ahead of time rather than trying to figure it out as the crisis unfolds.

Again, going back to basic economics, it’s the ability to purchase is low, making demand low, then prices fall.Jay, just out of curiosity, what would you consider a prudent amount of leverage to be?