But realized that I became an accidental landlord at 36 due the recession and being under water but I had to move for a new job. 

Also, an electrician that I was rather impressed with (manners, presented his insurance and license from the start) came up with this quote which threw me back at first:6 recess cans in living room4 recess cans in kitchenInstall (3) 110volt smoke detectorsreplace/extend switches and receptacles after drywallGFCI protect kitchen sinkDemo wires in wall to be removed (wall removed by other)Total $1795.00Personally, I don't think I need 3 smoke detectors in a single story 1100sq ft home and that I could get away with 4 recess lights in the living room and 2 in the kitchen (keeping a chandelier for the dining area).

That was the worst time to buy a home in one of the core Bay Area markets, because it was right before the Great Recession, so they should be doing utterly horribly in terms of home value, right?

Now all of our houses have equity thanks to buying in the low of the recession.

With 80% financing,possible(probable) recession you may be the one crying in a few short years.My logical thinking is we cannot lower rates forever.Sooner or later the bullet will have to be bitten & rates will rise to 7-10% range.Banks have already drawn the purse strings almost closed even with the fed cutting every other week.I welcome the day that my saving & frugal living will be rewarded with the interest rates my money deserves.

There are even some landlords on the forums who will do better in recessions: growth in renters tightens demand.

Hard money is very available right now, because of the glut of cash looking for an investment, however, expecting the cost of hard money to be offset by rising property values is a very foolish expectation, given that there is no guarantee of where the economy is going and whether we could have another recession and dip in property values.

Either way, I am currently a 'Global not eligible to vote guy' ;-)... haha Well, fact remains, President Elect Obama has been elected at the wrong time - I mean, Global recession / Depression!!

I would try to recess it slightly into the wall so it rests flat on the floor and leaves no gap where it meets the wall.If that's not an option you may have to trim the bottom or side edges so they match whatever angle you actually have.

I understand your thought process of buying during a recession but people have speculated about a potential recession for years now and it hasn't happened.