I see posts in the BP Community about a collapse of the values of MF properties (reduction of cash influx from COVID, rental assistance programs, increasing supply from builders, lagging impact of recession, etc).

The crash in 2008 is also very predictable as everyone already waiting for who collapse since 2006.So in 2021 I did a few flips and sell it asap to time the Fed interest rate hikes, the timing is just perfect.

Plumbing by-passes or abandoned lines; collapsing sewer lines; badly corroded supply and waste lines (both can be from inside or outside corrosion) fixtures with very hard to find components; hidden electrical junction boxes...or non-existent boxes at junctions; outdated and/or underrated distribution panels; knob and tube wiring improperly connected to, or extended with, romex; Switches wired incorrectly, breaking the neutral instead of the hot side; no, or poor grounds for improper outlets; overheated connections, outlets, switches, and light fixtures; improper wire sizes for circuits and overloaded circuits; and plenty of others...all very costly to troubleshoot, locate, and correct individually.

Two common problems are the joints have closed to a fraction of their original diameter and collapsed cast iron pipes.  

You can't keep doing that indefinitely - at some point, the whole thing collapses. 

I'm wondering if this has happened to anyone after a market collapse like back when the bubble burst in 2007 or 2008. 

@Ketan Patel as some others have mentioned, you can make money in Sacramento but you need to also remember many people bought when that market completely collapsed and have held until now and are doing great (ask them how the rental market was when prices got obliterated though).

You can “collapse time” by paying for education.

The housing collapse gold rush is long gone, we are now in the aftermath.

There have been incidents of new apartment buildings partially collapsing because the developer decided to maximize profits and skimp on the materials.