With that said labor and materials costs suggest new housing can’t go down in price (and old housing as well)With that said I expected a recession between now to q1 2025 and that doesn’t seem to be shaping up.In my market (Rochester, ny) the economy is primarily driven by defense and healthcare so I expect to be largely unaffected by the broader economy.

For someone that's not as conservative, or a different view on the next recession, they might have a different opinion than me on all of this2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

During aerospace recession prices fell between 1990 - 1995 while homes prices rose from 1990 - 1995 in Atlanta.

Dave Meyer shared a great overview of the future outlook for STRs nationally on the latest On The Market podcastTLDR: summer looks strong nationally, but it's hard to get a read on where things will go 4+ months out with a potential recession loomingLove this podcast, but keep in mind he typically focuses on national statistics ... your local market may look WAY differenthttps://www.biggerpockets.com/...

The apartment cleans up nice and was in pretty good condition, but I have a rodent problem (old home, lots of holes), the floors need to be professionally redone, walls needed plastering and new paint, the kitchen needs to be updated, adding ceiling fans in all bedrooms, recessed lighting in living room and kitchen, replacing doors, and there's no laundry for this unit in the building.I want to continue doing mid term renting, but also, want to attract the absolute best tenants and get the most money if I have to pivot and go with section 8.

I would say value appreciation and equity protection; there are few markets in the country that are more insulated from a recession than Boston. 

Hi Andrew, I agree with some of the other posters that investing in a syndication or fund could be a good fit given your situation.Even if there is a crash, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions.

One side of the table may get caught with their pants down if we get another recession, the other side is making sure they don't get caught. 

Hi Jeff, investing in a syndication or fund could be a good fit given your situation.Even if there is a crash, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions. 

(especially during recession 2009-2013).