I also listen to broadcasts and I am really impressed by Brian Burke and Andrew Cushmen that stop buying in the last three years and sell most of the property to realize gain before collapse.

There will be stagflation MSA's, there will be appreciating MSA's, some declining MSA's and some MSA's that will look a lot like iterations of a crash or collapse. 

Without going into too much detail, we had a mid-rise apartment building in our downtown collapse a little over a year ago which very sadly killed 3 of our residents.

The one's that struggled or collapsed tended to run very tight on cash flow. 

Depending on what the line looks like (i.e. if it's just a small gap in a joint/imperfection in the line that the roots are growing in, and not that a whole section of the line has collapsed or anything like that) then you can probably try this first before replacing the line.

The 1920s in Florida was a time of excess, immense wealth, and precipitous collapse.

Same for a collapsed sewer pipe - they won't pay for the repair to the pipe, but they do need to pay for the damages caused to access that pipe like removing flooring, drywall, concrete, etc.

No mortgage would help me weather a storm if a bad renter or economic collapse set in  

There appeared to be a cracked and collapsed pipe around 35 feet.

From a logical perspective it's gotta be this way, otherwise the best strategy becomes max leverage all the time no matter what and the currency collapses.