I am a bit more drawn to a 2 bed unit because I heard they are more in demand through a recession, compared to the higher end and lower end units.

With the number of condos etc. coming online in east austin (and all over austin), it can drastically affect your rental income in the future and send you more in the negative...and who knows what the impact may be from the next recession. 

My personal experience has been in multifamily but I like this, recession proof, asset class too!

Another important factor is with all the government industries in Huntsville, the area is almost recession proof because government spending continues when private insdustry is struggling.

When I was getting my house ready for sale, the appraiser my realtor had me hire (who had been a builder before The Great Recession) confirmed the water heater was installed improperly, which my realtor had me get fixed because of California's insistence on earthquake readiness.

I've also heard that recessions don't start until all the bears have been shot, and there is still a lot of them out there.

Conventional lending is an issue because I have some old credit issues from the great recession and my credit will not be cleared until November. 

If you have enough to survive 2 years of low occupancy during a recession, then house hacking may work in this environment.

Also the Rexburg market is hot but I think with the growing student base and recession resistance that that provides warrants the higher prices than other cities in the area.

If you invest in apartment buildings and maintain conservative underwriting practices by purchasing for cash-flow, securing long-term financing & allocating adequate cash-reserves, you have positioned yourself well for any recession.