I would suggest that you take a list of everything you've seen in the last couple weeks and find the few best properties in the stack and re-examine them a bit closer.

I work through scenarios exactly like this every week with clients - we examine the returns based on the full range of down payments (20% to 100%) and then layer in the domino effect you can create by paying off one of the loans early. 

If you are selected for examination the IRS will ask for them.Are you subject to the Net Investment Income Tax (NIIT)? 

Using "Stadnard 80/20" won't hold up in any type of IRS Audit or examination. 

I knocked on the door and as my nerves started to get the best of me, someone answered.I spent about 5 minutes speaking with the owner about the property, but she wasn't interested in selling.

I definitely learned a lot and feel like going through this at least once, the next time won't feel as nerve-racking.Thanks!

Just wanted some pros to chime in and settle my nerves a bit.

Setting aside the unpredictability of the timing of a recession or its effect on the economy and/or the real estate market, every single poster who inquires about "waiting for the next recession" presupposes they are actually going to have the nerve to buck societal trends and dire economic warnings, zig when the entire market zags, and buy properties when the market tanks. 

Carefully examine the experience and character of the sponsor and you'll tilt the risk curve in your favor.

Now.. if the city reviewer/examiner has a specific problem with this project because of the stop work order/un-permitted work, then that is a separate issue.