Ten years ago, many sellers were still dealing with the repercussions of the Great Recession hit to real estate prices. 

My STR performance is the lowest ever excluding the Great Recession and Covid lock down periods.  

The FED is slowing pace on rate hikes, the consumer is slowing and the economy is headed into a recession? 

Let's say we enter a moderate recession someday.

It's interesting that in my third post on this thread that I said about my tactic "...what I did 5 or so years ago..." which was right after the great recession when NOBODY was getting a loan and builders were going bankrupt left and right.

If we got a recession it’s expensive to fly to the Caribbean or Hawaii but it’s still cheap to drove to the Smokey mountains.

It was a good/great investment but even with a $5m valuation on $4m of purchases my underwriting shows them as cash flow negative (50% rule shows about neutral but prop tax is ~15% of rent so 50% rule is too aggressive on these properties).in addition, my STRs/MTRs are performing their worst excluding Great Recession and Covid lock down.  

We jumped in after waiting on the sidelines too long and now are learning on the fly during this recession... correction... market cycle.

To reduce your exposure to changes in the market and recessions, diversify your portfolio by making investments in a variety of markets, property kinds, and investment techniques.

With a good chance of a recession coming, have cash available to take advantage of the best deals to hit the market in years.