Although that's no major feat considering we came out of the great recession during this time.

I've heard different opinions about this: Class B is more recession proof, you'll cash flow more with Class C, etc. 

@David Gauger one challenge with a rent estimator like air dna is that their data is often based on bookings/vacancies that occurred months ago, and the market today is COMPLETELY different than it was several months ago.Specifically, there has been recent data showing that the STR market is completely over-saturated with supply, and most indicators show that we're in recession--which means that demand will likely decrease substantially (or is already decreasing)...it sounds like a perfect storm of excess supply and diminishing demand.

If/when there's a "crash, recession, etc." prices will drop... that's part of the definition of a crash/recession.  

I suppose the downside scenario would be a significant recession slowing the transition, and then waiting years for the neighborhood transition to get underway again.  

I like multifamily because I think it is one of the safest assets to own and is generally not hit as hard in a recession. 

This would allow you to be in a more recession resistant asset class and not have any liability outside of your cash contribution.

I'm in California and if you acquired your property before 2010 (2008 recession prices) or way before that (1970s to 1990s), investors are getting positive cash flow with charging market rate rent.

Even when the 2008 recession hit there were still deals to be made.

Risk of recession in Europe and here at home, inflation, war in Ukraine, market conditions + Covid regulations in China ... mid-term elections on the horizon.