It has low taxes, decent cash flow, and light to moderate appreciation.

The commercial lot is also vacant, on a commercial strip (mom n pop retail, banks, gas stations, etc.) 2 lots down from a moderately busy intersection in a redevelopment zone.

Let's say we enter a moderate recession someday.

Don't get me wrong, some of those are important in moderation.  

Last year my largest holding FDUS, paid 13.6% dividend and stock also went up 8-9 %, as long as 10 yr flat to rising they make money on their large net interest margin spreads.if you ok with moderate risk, pick good REITS, as a group VNQ they beat sp500 last 20 and 50 yrs by about 1.5-2.0%, and they beat private real estate investors by 2-4% in academic studies as well, that's an average, that doesn't mean REITS outperform the excellent investors here at BP :)Or take out a margin loan and YOLO Bitcoin, no don't do that!

I also look for areas where the tax rates are low to moderate.

I work a full-time job, a side gig as a food delivery driver, moderate for BiggerPockets, gym, family, friends, & etc, but I still self-manage my properties usually from my cell phone, lol!

There are some layoffs but heavily skewed toward corporate and management level employees.Cautiously optimistic.I see rates in upper 5’s soon which I believe will unleash a moderate wave of buying.

@Wendy Schultz most time winter temps are moderate, crowds are down except at holiday time, there is skiing and snow tubing, and overall rates are less expensive.

Maybe things are starting to moderate?