I mean there is always a chance you can jump off of a 100 foot cliff and survive but that is not the common or best way to get to where you want to go and 9 times out of 10 you will never make it, only jam yourself up.

When the market corrects itself or slows down, they may need to dump property to survive.

Could your portfolio survive a hit like that?

If the property has to go thru probate (in some states not necessary with a surviving spouse) the wife can’t sign on behalf of the husband’s 1/2.  

When the crash hit we were in a great position to survive it.

If a new landlord is not changed by the experience they likely will not survive. 

Maybe in 10 years, when I'm a seasoned investor who has survived the next recession, I will look back at this thread through a different lens.

I didn't feel comfortable working in this survival-oriented environment (the bottom rung of Maslow's hierarchy of needs), but I had a hungry mortgage to feed every month.Those times made me yearn for financial independence where I would more than cover my living expenses with investment income and not have to be concerned with the price of gasoline or the chip industry's "book to bill" ratio.

He knows the apartments are survivable at best and they know he's the only person that will rent to them.Each unit will need to be renovated - some structural but all are to modernize.Local landlord tells me no matter what a person does this place will always be a $450 per month per unit rental. 

This is essential for surviving in this business.I would not have accepted any money from them.