Outside of real estate I am a financial advisor who specializes in 401k retirement plans and occasionally crosses over into IRA's when it makes sense and I see people working against their own self interest every day. 

Most property owners understand that tenants can occasionally go through a rough patch with jobs, health, etc.  

And an occasional progress pic here and there.

I'm a cop in Oregon and deal with this occasionally.

I can't speak for Toledo, but here in Houston, there's no way you're not going to see the occasional bug in the house.

On paper we are now millionaires, but we don't live extravagant lifestyles. 

You will occasionally get bad actors, it's best to head those off and eliminate them as quickly as possible.

A sturdy sofa in brown, occasional tables and a sturdy dinette and a desk.

Yes, they occasionally go weird on you, but so do higher income folks. 

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.