Back in 2009-2013, I was nailing well over 50% profit margins but that was unusual due to the Great Recession and my personal ability to capitalize on that situation.

Now along comes the recession in the market and you have all the flexibility and security in the world to weather the storm.

Remember the last recession!  

I assume you already took a look at the Fed dot plot.If the Fed keeps that schedule, the term structure of interest rates could invert (it has done so occasionally), but the inversion has almost always been a temporary affair (and it has usually presaged a recession...).Even from a naive mean-reversion perspective, it's pretty obvious where we're at in the supercycle.

What are your thoughts on recessions in the appreciation equation?  

I can't say enough good things about them.2) This property is less than 4 blocks from a University in a city that was hit hard by the recession and is still recovering. 

I don't like the island sideways, and where you can only get to 3 sides.I'd make these changes:1. bigger doorway - remove the cabinet to the left of the range.2. face the fridge toward the range, rather than 'away from the living area'3. rotate the island and plonk it in the middle of the room, if possible, make it mobile and just have non-specific lighting - 4 recessed lights or something.Rotating the island makes it a work surface for the sink/range area.Have seating 'over hang' on the non-work side, and both ends.

I much prefer an unfinished basement but you take what you can get...I have a little, 12 yr old house I bought during the recession for $19K.  

Your taxes, insurance and water bill go up every year (sometimes even during a recession!).  

The risk is, if the economy goes in recession, banks may revoke those lines.- 401k: this is the last line of defense, we can only borrow up to 50k, more than that would be a hardship withdrawal with 10% penalty.