They will be a passive investor, buying for a steady and consistent return.Specifically, as you asked about market dips, ideally you wouldn't sell it if it is still performing from a rent and return standpoint.  

I wanted 12 -18% cap rates (interest rates were MUCH higher), and real estate I could buy for 25% + below REAL value.Immediately after the crash of 2008 I sought properties in the most devastated areas (Phoenix, Miami, Las Vegas) that were (1) class A (2) one third previous sale price (3) 8-10 cap rate on residential.Now I look at properties with a steady cash flow (depending on risk and property type), have rents that are short term adjustable in case of high inflation and have a potential equity "kicker", such as neighborhood being developed, restrictive zoning, university expansion, etc.I now divide my portfolio in three areas, not always mutually exclusive.  1- short term mortgage notes or long term mortgage notes purchased at large discounts (secured by commercial properties) for cash flow.  

I have a fairly steady rental property.

Look for steady W2 income, look for a clean criminal record, look for no court judgments, get input from the prior landlord, etc., etc., etc.These are human beings and they are living the human existence.  

Took months but once things started coming in, it's been really steady.

For many investors, this is about a progression from wholesaling to rehab/flips to buy/hold SFRs... then some even start looking at multi-family and commercial. 

“The best tool we use is Evernote to track progress.

Also, as you progress along in your investment career, growth becomes less important than wealth preservation ... this is when many investors tend to go lighter on the leverage because their portfolio is already large enough and protecting it is more important than growing it.

“The best tool we use is Evernote to track progress.

Berlin has one of the most vibrant musical and artistic scene worldwideGermany has been graded as one of EU's countries with the highest social progress index4.