I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

I think the business has pretty thin profit margins and they tend to take on too many units, which results in the quality going down.

That's certainly one of the factors since 1sts tend to have tighter margins than junior liens.

Historically the market slowed down in the months prior, as people tend to freeze in the face of uncertainty. 

And then when a deal does not go as planning the investor tends to start the blame game. 

During difficult economic times, fewer people tend to take vacations.

Does MSO tend to stay same location like DSO groups?

I tend to agree with most everyone's comments here. 

Attorneys in "real estate' tend to be very specialized.

In my own experience, Section 8 tenants tend to stay longer, and fewer vacancies mean less turnover cost and hassle, which is a huge win.Section 8 isn’t for everyone, but if you want reliable cash flow and are willing to do the upfront work, it can be a great way to invest in rental properties.