She has a health crisis in her old age and decides to rent the property in her last years.  

Looking for diplomatic ways to explain this.

Not including the 2008 financial crisis, does anybody have a sense if property values typically go down in vacation home markets in a typical real estate down cycles and/or recessions?

Due to financial crisis many lenders have pulled back on HELOCs and Cash out Refinance.   

Its appraised value dipped all the way down to $130,000 during the financial crisis. 

You're facing a crisis now so start there...give those children that safe place they need now. 

I bought some stuff in the SF Bay during the financial crisis, but am investing in Multifamily (apartment) syndications out of state right now - with a focus on Phoenix.

in last month alone:- future's interest rate going down- stock market started to skyrocket (this is would be fun run until EOY)- unemployment went down- CPI going downtwo years from now people complaining why in the world I didnt buy in end of 2022/2023 LOLthe biggest crisis is on banking sector okay, the highest vulnerable bank is FRC but they already contained by JPM.The next inline is PACW, yet their stock recovered 100% yesterday, PACW's bank run is 1/3 of FRC btw. 

Meaning a race to the bottom and an exacerbation of the acute housing crisis.

I fired my financial advisor after he lost 30% of my money during the housing crisis, yet thought he should still get paid a management fee, lol.