I mentioned the amount of inflation over 10 years and the company owner seemed to blow it to the side saying it only accounts for operational expenses.

They are in the trenches, acquiring assets, building connections, getting the know-out, facing the challenges, looking for solutions, gaining experience, building momentum.When the recession hit, they will still be out there learning from their mistakes but still buying.If you have been sitting waiting to get into the game and looking to borrow for example, people will be less likely to lend you.If you think a recession is around the corner, still invest but be conservative.For example, if you were going to be a house ot live or rent out, buy a house that is coming at a discount on the market because it needs repairs.Doing the work and making the repairs will provide you with equity in that house that could you shleter a recession.Buy in area where the house prices are not massively inflated so that your monthly expenses (including mortgage payment) are well below the rent that house would command.In that scenario, you have some protection should the market dip because you'll able to hold on to that house for a long time without having to worry where the market is.

Most wholesalers use inflated ARVs with low rehab estimates currently

Undoubtedly, the 90k estimated value is inflated, and the true value is somewhere around 50-65k. 

That said, the problem is that prices for this area (mostly just the historic district) are already very inflated as investors have been pouring in for many years in anticipation of what we are seeing now.

Price inflation has made this process pretty difficult, my window is much smaller based on my cap.  

@Harrison PrestonThere are some really great posts on Bigger Pockets about wether to invest in an inflated market or to wait for the "crash".I'll just keep it simple in saying IF you can find a deal below market value that is CASH FLOWING (main point) and plan on holding it LONG term, you'll be just fine with any market "crash", as the rental markets will hardly see a drastic downturn that the the housing market will experience.property values only matter if you are buying or selling a property!

Because 2 -5 yers from now it will go up 20-40k every house ,the rent it’s going up I can rent for 1700$ each for section rent , the inflation it is to the roof ... 2-4 yers you will make 200-400k easy 

It is the ability to find innovative ways to continue capitalizing on a inflating market that will make people successful these days.

It is money that would go back into your pocket.Owning real estate now protects you against inflation which would quickly erode the purchasing power of your dollars in a saving account And if you have made a sound investment, owning a property provides the best better returns.