Luckily, we decided to continue investing all the way through the recession and those purchases enabled us to enter real estate again at a comfort level that we were both happy with. 

No matter how blank your mind may feel, somewhere in the recesses of your memory you can pull out the last three words of what someone just said.

@Bryce Spraggins I was crushed during the Great Recession, but I found a way out and have gotten half back with the buy and hold strategy.

During last recession a well paid developer was laid off.

I always rent a little below market, attract a crowd, but I didn't realize rents dropped due to the recession, so I was asking a little too much for the market. 

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.

During the severe chip recession of the 1980s, for example, we had instructions from top management to accept all orders over variable cost.

With rates like that unless we have another epic crash/recession like we did 10 years ago, you’ll never get those rates again anytime soon.Most people see rates (for investment loans, 30 year fixed) being 6 percent by end of this year and likely near 7 percent by end of next year.Meaning if you pay off your current mortgages you’ll be stuck if you ever want to refinance.

Leverage is a double bladed sword, and many of these newer posters didn’t live through the 2008 recession.

List of items to be done - (inspection next weekend)HVACAir Conditioner addition to current forced air furnaceElectricalGarage door motor to 1 car garage door Install recessed lights in living room, and new light fixtures in bedrooms, living rooms, kitchenReplace light switches/outlets to square plastic whiteFlooringRemove carpet, tack boards one main floor and top floorInstall vinyl plank flooring throughout main floor Same baseboardPaintingPaint all wood trim whitePaint kitchen cabinets whitePaint all wallsStructuralRemove half of kitchen wallSliding door for half bath on main floorKitchenReplace kitchen counter top, and match bathroom vanities with sameReplace kitchen sinkReplace appliances with stainless steelBathrooms Replace countertops with same kitchen counter materialGeneral workInstall window blinds on all windows