Economic outlook is too bad, so I better not buy now cause the markets going to crash.

Now, that said, I've invested in some areas that could experience a 20-30% correction (or more during a bigger crash). 

I bought my first house in 2020 during the market crash.

While I completely agree that the STR is oversaturated, but I don't think they're going to become illiquid or crash in price. 

Did Reno’s Real Estate market already experience a “crash” in 2023…? 

20 years ago, before the real estate crash, many investors made 100 offers (at prices that matched their target ROI), to maybe get 10 accepted, to end up with 1 after it passed their inspection criteria.You can try any shortcut you want, but most will negatively affect your ROI.

Or they have money to pay for their housing stay, but then they meet someone from their home country less fortunate and then they allow them to stay with them, or 'crash' on the couch. 

If you miss payments on the underlying loan you can go to jail after a very unpleasant investigation.9.

I first went there in the mid 80s and i was buying foreclosures there in 2009. when the last building boom was going in 2004 to 2007 until the big crash.

Even after the housing market crash in 2008 where the price of the S&P 500 dropped from ~$1300 in August 2008 to ~$700 in March 2009, the price recovered to ~$1100/share by October 2009.