What were the highest cap rates during the 2008-09 Crash?

If the RE market is crashing and banks have to deal with a growing number of foreclosures and lending related losses, they will probably apply stricter limitations and conditions for borrowers and usually this type of limitations are applied to investors first: lower LTV, higher interest rates, more reserves required, etc.- My expectation is that homes prices will drop faster and further relative to rent prices so a higher interest rate may not inhibit our ability to refinance and make BRRRR work.

Humorous, in a sad way, last time I bought a house was right at the start of the 2008 market crash. 

I have been waiting on a crash to get into rentals and still want to purchase rentals when prices fall quite a bit. 

The only adjustment we are making is waiving late fees for tenants who have always been on time with their payments and are in a crash crunch.   

There are a lot of "newbies" that weren't around for the 2008 crash buying "house hacks" etc, without understanding what can happen in a down market.

After the last crash 70% LTV was the best we could get for our first BRRRR and eventually as the market improved and we gained more experience we had lenders willing to do 75 or 80% LTV but it takes a while. 

Go big, stocks are at a major discount now just like real estate @ the last crash

You don't let that make you abort the mission unless it's so much flak you're going to crash if you continue on. 

Assuming things don't crash and burn in the coming months I am planning on partnering with a real estate agent on a couple of flips and I am a licensed contractor and I am trying to structure our partnership fairly.