That is, playing defense when it comes to money might not sound all that sexy, but I bet there are 10,000-20,000 investors who would have given their kidney to not have lost their shirts in 2008. 

I have a set of long-sleeve shirts with holes in them for winter and a set of short-sleeve shirts with holes in them for summer.

I can certainly make some suggestions on a Georgia-tested lease, but I've gotta say this first...If you're raising the rent anyway, I would strongly urge you to consider adding in enough margin to have the property professionally managed.Property management is where most buy-and-hold investors lose their shirts!

That said, I’m not willing to lose my shirt on a bad deal just to learn so I think I need to continue exploring both paths: looking for personal deals and deals I could bring to the business (and which I could invest in).

I haven't been through a recession but this is what I do to avoid losing my shirt and investor money.

:0(Forced to sell home / condo - in 2009 - could not find suitable work = sustainable incomeGave away most all contents in condo = books, sofa, etc to SALVATION ARMY prior to saleBeen in Poverty for over a decadeFinally found work bagging groceries for 2+ years / 3 hours PER WEEK as ONLY JOB making $35 / wkI have been wearing mainly the same clothes for 15+ years - purchased some at Goodwill & SAVERSNo Gym memberships for 8+ years, just on and off as "guest" & walking the surrounding neighborhoodsNo Vehicle for 6+ yearsOn Food Stamps for 5 yearsLiving with Parent for support for 10 years and still here !!

If people don’t know that you have assets, then they are less likely to sue because there’s no use in suing people that qualify for food stamps.

I’ve got a blue shirt on.

At this point you should probably just be glad you haven’t lost your shirt on this rental.

I need to pickup a few new shirts.