I wasn't even going to post again on this thread, but I kind of feel a need to send a quick apology to the original poster and reassure him that most of the time the folks on BP do a better job of keeping themselves in check and do not come off as being arrogant, belligerent and condescending.

I was attempting to be helpful but it was not taken that way and I apologized.. !

Apologies if the story is confusing or choppy.

All of this leads to reduced GDP, which is the big indicator of an impending downturn.  2Q18 GDP was 4.2%.  3Q18 GDP was 3.4%.  4Q18 GDP is now forecast at between 2.5% and 2.7%. 

I do have one clarifying question and apologies if you did address it in your initial post - what were/are the logistics of you paying back all of your lenders?

Hello everyone - Brand new to landlording, so apologies in advance for the basic questions.

However, I gotta say for first year, I'm kinda shocked at how well it's done (yes, I had to apologize to my wife for doubting her).About the only thing I got from our PM (who I trust) is that larger places (ours is 4/4 bed/bath) rent a lot better for families since she thinks smaller places are competing with hotels (that are buying business to stay open).Other thing is the mgmt fees, which are about 40% of gross, so you want to make sure you get a lot of services (like cleaning and posting on the Internet) included as you can. 

With the impending recession, what are some considerations for aspiring investors?

@Katrina Nicole-Ivy  Apologies for being blunt, but if you didn't have the money to buy both OR do the rehab on one, you shouldn't have bid on them. 

@Davido Davido I am late to this thread and haven't fully read all responses (and, based on the ones I have read, I don't intend to) so my apologies to @Eamonn McElroy , @Natalie Kolodij , and any other responder if my response is redundant.In my overly simplistic analysis, you do not own these "abandoned" properties but you are renting them out and collecting and depositing rental income into a bank account owned by you.I believe you mentioned that the lease states you are not the owner - I'm not a lawyer but I believe the lease would still have to be between you and the tenant with reference to a third-party owner.