We are higher than we were during the great recession and then home prices fell 35% . 

, but now you stack on top of that all the unknowns from the recession we just entered...

Just to give you some background, I also invested in multi families in Salem during the tail end of the recession.

One multifamily I got, came in with 2 occupied units, tenants were paying what I call "recession rate rents" (what most people call under market rent).

I wrote a thesis on the 2008 recession in college, and I agree with the previous statements that the article is not looking at many important factors. it also seems to be using incorrect definitions for "flippers".

Be patient and remember cash is king when the next recession hits.

South Boston weathered the last recession very well for property values.I'd be happy to send you all active multis in your area as well as some recent comps for reference.

James, the project is still ongoing as we hit the Christmas recess and Miami (being a Latin American country) stops working altogether during that time.  

Using your $400k house example lets say the avg. appreciation in your market is 5% including any corrections or recessions.$400,000 Purchase Price $  80,000 Down Payment (we will not include closing costs to keep it simple)30yr @ 3%$1,349.18/mo = PI paymentLets say you rent it for $2,000/mo and you have 40% expenses (which includes taxes and insurance)$2,000-40% expenses  $1,200 NOI-$1,350 PI payment -$150/mo Cash Flow = -$1,800/yrSO year 1 you went up $20,000 in appreciation and lost -$1,800/yr of cash. 

I want to take the next 15 months to finish renovation and rehab of properties in the portfolio and pay off debt with the goal of preparing for the next recession.