The people at the city act as if they have immunity, even when they are wrong, they don't have to pay the piper or cut you slack.. 

And yet, during a typical recession, very few -- if any -- markets are completely immune. 

The initial post that I responded to indicated that cash flow was immune to the market which is not the case (as evident by Las Vegas and Detroit) even if the market did not affect the cash flow in your market at the GR.The smart investor is prepared to handle what the market brings, is in a position to pivot if necessary, and has multiple exit options. 

When I purchase $400k NOI for $4.2M with $500k NOI year 2 and $600k year 3 WITHOUT major unit capex I immune myself to many (not all) market risk. 

however in the Great GFC ( and I am not predicting one in the future at least I hope not I may not survive another one).. no asset class in any city was total immune .those with max leverage lost properties its a fact.. some big established REITS multi billion dollar companies went bank O and lost their entire portfolios.. 

Crap I would be better lending to all these guys and let them do all the work.. so we took our 10 million and created a HML business  and grew it to just over 35 million over the course of 6 or 7 years.. but then the GFC hit and it was at that point I realized that Cash flow rentals are not immune I was funding a bunch of them and ended up owing 200 of them and we got our clock cleaned.then we looked at a niche performing note model not a NPN model and have done about 60 million in that business last 5 years.. conservative returns but predictable and FAR more appropriate for IRAS most of the time compared to the risk of actually owning the asset.  

1) no one is immune from lawsuits, sadly, but there is usually a waiver of subrogation and an indemnification provision in true NNN leases so that the landlord's costs and defense are handled by the tenant.

With the vast, vast majority of rental guests driving to the Smokies the large overnight increase in gas prices caused a moderate (and short lived) disruption in the overnight cabin rental market.I wouldn't say our overnight cabin rental market is immune to large economic events by any means.

With the vast, vast majority of rental guests driving to the Smokies the large overnight increase in gas prices caused a moderate (and short lived) disruption in the overnight cabin rental market.I wouldn't say our overnight cabin rental market is immune to large economic events by any means.

Of course you run the possibility of the market going south, but no asset class is immune to that.