Excess covid money has been spent.  

Personally I would continue to look for deals but leave yourself a larger vacancy allowance in underwriting and plan to keep some excess reserves for the property. 

Now, sure, business will slow, properties might not appreciate and cash flow may not be the manna from heaven you were expecting, but just be smart, save up money and pay down excess debt that's not making you money (like car debt) and worry more about growing your portfolio to be recession proof, than trying to predict whether or not there will be one.Originally posted by @Gadiel Del Orbe:I'm currently renting in Los Angeles and the rents are super high.

Nothing makes investing in real estate easier than excess capitol from a strong income.I'm certainly not saying you can't succeed, but you have picked a path that has a lower percentage chance of success.

This will let you know if there are any plumbing leaks or any clogs in the sewer lines.2nd look at the foundation very closely, look for any stress cracks and see if any moisture coming in.3rd check out the HVAC systems.

The seller and I end up partnering on the two unit duplex, I took a withdrawal on my 401k, I re-enrolled in school for a second master's degree and I'm using excess student loan money to fund the rehab.

It sounds like they may take any excess off the minimum guarantee they offer their owners.

If you don't know, or don't have one, or don't have any properties, you are better off just sticking with the normal depreciation schedule because you don't want to waste excess depreciation if there's no income to offset (although you may be able to carry the loss forward). 

That stated, I'd sure like to find out why the OSB failed from moisture issues as it's supposed to hold up to weather.

Once you get a new tenant, you return any excess deposit to him.