Shortly after, the Economic Crash began and his mother told him to Sell, Sell, Sell.

Probably not that relevant to what you're looking for, but my parents had a high-$ ski-in ski-out house in Deer Valley for a few years; according to them, the rentals basically paid for the property taxes :p  (thank God they sold it just before The Crash)However, they bought it to use, not as an investment; the family spent several weeks there each winter, so obviously it wasn't rented out then; they also had a property management company handling it, which undoubtedly took a very hefty slice.  

That is why I say that I do not want to be caught with a bunch of Rentals and Tenants losing their JOB's like the 2008 Crash.

Say the job market crashes and people lose jobs.  

who in recent years have complained they  came home to find sheriff's dept snooping around their home looking for MJ to confiscate, when they found nothing, they still try to lift anything valuable like iphones, laptops etc and provide bizarre stories like 'WE CHASED A MURDER SUSPECT WHO FLED ONTO YOUR PROPERTY IN HIDING'. in retrospect, i find theres more '420 FRIENDLY' civilians, officials, etc, than there are not. perhaps even to officials its a quick way to make extra $$, crashing and siezing GROW OPS?

He said that elections have no correlation to real estate market crashes historically. 

Ironically, I also listened to one of the latest episodes of R.Kyosaksi's Rich Dad Radio Show podcast (11/21/16 episode) where James Richards talks about currency wars and his prediction of a more global economic crash expected to hit in the next 2-3 years (much larger crash than that of 2008).

Those homes were built just before the crash (04-06), and looks like they are going for $150-$175/sqft now, I imagine they got hit harder than a lot of the neighborhoods in Sacramento.  

@Matt M. what do you suppose the fallout would be (on a large scale) if property values crashed within 12 months of someone taking out a hard money loan?  

Obviously there is a danger in that way of thinking, as we saw in the 2008 real estate crash- people who were over leveraged lost everything.