I stumbled across Fayetteville, and reasoned it could be resilient with the assumption of Fort Bragg providing a backstop to the local economy, the main metric being employment.But then COVID happened and I realized a potential vulnerability in my assumption: it doesn't matter if Fort Bragg can provide $$$ to the local economy if the local economy is shut down (maybe is wasn't /isn't).I found this Forbes article that actually lists Fayetteville NC as one of the top places to invest during COVID.

This is when you are most vulnerable.

I personally use the BRRR method and aim to leave as little equity in a property as possible to maximize my returns - but it also leaves me in a little more vulnerable position if the market has a large downturn and I would have to foreclose (assuming I couldnt afford the property and couldnt get it to cash flow).Note - I just did a live-in-flip with 3.5% down.

On top of those issues I'd get an inspection to see what else is potentially going on.Lots of 'experts' are making predictions about prices going down or up next year based on this and that; truth is nobody knows, although some markets are more vulnerable than others.

"With anonymity comes impunity, and, for vulnerable tenants, skyrocketing numbers of evictions." 

All of this is great, my only concern about the SE area of town is that it is vulnerable to sprawl.

The worst that would happen to the property owner is they would be foreclosed on and the city wants to protect the most vulnerable population.I can't blame you for investing outside of Portland. 

Class A multi-family will always be vulnerable during downturns and will be the first to see reduced demand and people downgrading to more affordable housing.

We do need social safety nets to protect our most vulnerable however a lot of systems have rampant abuse and checks need to be in place. 

As with your story, they find out the most vulnerable targets and highest opportunities to score big before jumping.