If you are concerned that the property you are about to buy may not be immune to a recession, factor it in then by dropping the rent you expect to receive per month or ratchet up the vacancy. 

Ideally you will want to buy an investment property that is immune to market dips.

Mostly it hits infants, or those with compromised immune systems, like the elderly.

If you are the GP, are you immune to cash calls?

I think they just build up immunities..   

No market is immune..

So make no mistake, multifamily investments aren't immune from challenge, and @Joel Owens is 100% correct when he says that just because "everyone needs somewhere to live" doesn't mean it will be in your apartment building.  

Buy and hold investments should generally be immune to downturns as long as your hold period is significantly long. 

in areas were renters left in droves that loss of value was becaseu cash flow not only went down in many markets it went to zero.. so those that think rentals are immune most never lived through the 07 to 2012 markets or they were in a market that did not suffer but many markets did.. 

Common trap operators fall into (I’m not immune of doing the same sometimes) is just trying to be ‘full’.