I'd love some input into the idea of buying cheap properties in a economically depressed area with cash, and selling them with owner financing as a means of income.I have purchased two properties in the past with owner financing when the market was bad, with low down-payments.

Its been historically depressed but growing now with economic development it hasn't seen in decades. 

However, you should know that the area and communities North of Memphis tend to be much more depressed than the areas and communities to the East of town.

Only twice since the great depression did housing prices retreat nationally....the housing collapse, and in 1991 they dropped about $1800. 

I think it will get worse and there will be a deep depression and 60% loss in stock market.

There's already talk of rent riots to rival what happened in the depression (look up what the tenants did when the marshalls came).  

The idea is that being outside in the sunshine is healthier, rather than being depressed sitting in your house. 

If there is a “recession” or “depression,” the dilemma for me is to buy up cheap real estate, or retain that $ for operating income in case people can’t pay rent....?

For example, my grandmother was a depression baby.  

PTSD, anxiety, depression, and other illnesses are diagnosed with minimal evaluation and then no treatment or expectation of improvement.