Nothing is completely recession proof.

@Gilbert Ross Jr I understand the process of a foreclosure my question is what does the owner of said foreclosure now responsible for when it is bought besides property taxes and making sure there are no code violations....For New Jersey & Pennsylvania the length it takes from pre-foreclosure to foreclosure is 270 days or roughly 9 months For the state of New York it is 445 days or 1 year 2 months and 20 days Unless laws have change due to the recession we just had

Unfortunately I don't have older data, so it doesn't tell as compelling a story as when these buildings hit end-of-lifecycle issues as our 1980's development has.As you can see the trend lines are separating with the single families appreciating faster even with the recession.  

My real estate experience started right at the beginning of the recession when I interned at a PE Real Estate fund and then transitioned to a real estate valuation consulting group at a Big 4 accounting firm.

As an West Coast out of state investor myself, I look for areas with growth in population, jobs, and home prices that are still relatively low on the upward swing from the recession bottom.  

The story I got out of this past recession was that it was a very slow (unusual) recovery and therefore the 8-12 year cycle should be more on the longer side.2) Seems like we are agree that when interest rates start to creep up that it will lead to a downturn in markets.

In large part because recessions/depressions do come.

We're still in a recession; so a penny saved, is a penny earned. :)Either way; I will welcome your input, as an active investor.

This would put the assets needed at around $1M - $1.1M.The question is what yields are tolerable in all economic climates.  15% may be pretty ambitious with a large recession like what we had 7 years ago.  

It was a nice middle class neighborhood before the recession but now I'd say it's a lower middle class neighborhood.