WE are already in a slump in RE  new construction is down  But real estate is not going to lead a recession..

I missed the opportunity now and has to wait until the next recession.

But realized that I became an accidental landlord at 36 due the recession and being under water but I had to move for a new job. 

However, the uncertainty during these times and a possible economic recession coming, makes me want to hold on on my first real estate investment for a few months until I am able to save even more money and things settle more.

He split the lot into two, and built one new home and sold it. and of course she never moved into the original house.They rented the house right when the recession hit in 2009 or 2010 for 1500/mo. to a married couple.

For example your cost perhaps higher if you do floor with A, lighting with B and bathroom with C.My typical rehab is change the whole LVP, windows, recess lighting, popcorn removal, update kitchen, update bathroom vanity's and flooring and toilet of corse. 

I understand your thought process of buying during a recession but people have speculated about a potential recession for years now and it hasn't happened. 

Personally that layout isn't great, but if you are looking to save money/labor but spruce up the look, I would do new vanity, new hardware (lose the brass) replace shower door for frameless glass, new recessed fixtures, add some wainscoting where there isn't tile and then repaint.

With 80% financing,possible(probable) recession you may be the one crying in a few short years.My logical thinking is we cannot lower rates forever.Sooner or later the bullet will have to be bitten & rates will rise to 7-10% range.Banks have already drawn the purse strings almost closed even with the fed cutting every other week.I welcome the day that my saving & frugal living will be rewarded with the interest rates my money deserves.

We see that in a lot of areas properties are still below their peak market values back in 2006, 2007 prior to the recession.