I prefer my unknowns to be related to the house: plumbing, electric, layout problems, mold.

With that in mind, it still seems like buying a better house or one at a lower price point in a recession is the right move since lower price point means lower mortage, PITI, etc in a world where rents would not be hit as much in a recession.But, you're right I cannot predict the future, so if I think rental market is strong, that is a case for acting now rather than waiting for something unknown ahead.

Two things to think about.1) Fear of the unknown:The majority of fear comes from the unknown.

Sure, even the experienced guys get bit sometimes, but they know there will be unknowns and add in a fudge factor to account for it. 

Of course, if you do this there may be unknown creditor claims that you might get stuck with.

I had a crazy income goal for 2013 and I will pass that up thanks to many unknown opportunities That came up.

I just know enough to understand the known and unknown risks that can pop up.

There is 1 vacant unit being renovated with new rental price unknown, 7 tenants most without leases whose rent can't be verified but only stated, and most without security deposits.

It may need done depending on the length of time and frequency they smoked, and what all they smoked which will remain unknown.

Hey there,I just got an email from my MLS, (Mine is "MRIS") stating this:"As a result of the new TRID rules, some agents will not get a copy of the new settlement sheets and/or the purchaser has requested that the mortgage information is not to be entered into MRIS.If you do not have the information for the Loan Type 1st Trust (FHA, Conventional, etc.) and Loan Amount 1st Trust required fields, you may enter "Unknown" in the Loan Type 1st Trust field and enter "0" in the Loan Amount 1st Trust field so you can change the status of your listing to SOLD."