If it will put a financial or emotional strain on you then you should hold off.

With increased panic in the market place, even the most "mentally stringent" investors can be forced to make an "emotional" investment decision. 

The seller is too emotionally attached you will probably need to move on.

Since they did not want to sell their interest, because of their emotional attachment to the property, the company I worked for paid the Insured the policy amount since the fair market value of the Plaintiff children's 2/3 rds interest appeared to be greater than that amount. 

They have an emotional element tied to their decision making.

If you buy on emotion...you'll sell on emotion --- i.e. likely sell for a loss later on. 

Clearly you had some good foresight a year ago.In general, I agree with your sentiment that things will get worse, but I do disagree on general timelines.First, I cannot tell if you mean recession from a traditional standpoint (2 consecutive quarters of GDP decline), the current National Bureau of Economic Research (NBER) definition (a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales) or a general "emotional" descriptor. 

I am at the same step you are on this journey and just remmebr that we have to take out all of the emotions out of the dealing with all of this even the brutal honest advice from some of the seasoned veterans.

It's the enigma of the free markets that trades on reason or emotions, the real bull and bear. 

Im sure others are different, but its the comfortability and less stress that comes with inheriting a tenant and being able to plan logically and not emotionally for what I plan to do.