I think that most sellers haven't came to terms with what the real value is now after this crisis.

After all expenses, debt service, vacancy and maintenence, the cash flow will only be $145/mo.So I will be receiving $650/mo but only keeping $145/mo until the first small crisis that will cost 2K (roof/ furnace/ toilet, etc...)  

It was not affected by the mortgage/home loan crisis because they do not do high risk loans. 

SB 608 further provides that a fixed term tenancy automatically converts to a month-to-month tenancy if not renewed or terminated.Supporters of the bill argue the new restrictions will provide relief to tenants facing rising rents and limit displacement from landlord evictions in what has been declared a statewide “housing crisis.”

The one thing with real estate, at least where I live, is that when the economy gets bad like in the housing crisis recently rents actually stay stable or go up.

There is also a rental crisis in Port right now.

The 08 mortgage crisis happened because bonds containing mortgages were sold en-masse all over the globe.

The draw includes materials, so it doesn't matter if there's more material cost on the front end - the contractor is (or should be, unless he is a week to week crisis worker) is floating these costs with the supply house/wholesaler anyway, so he's not out any money.

When the 2008-2009 financial crisis occurred and my home was under water, it was barely even on my radar.  

Never depreciate.When something breaks, it suddenly becomes a crisis.