We own two additional lots in our sub-division, one of which I picked up at a bargain price in the depths of the real estate recession.

Do you think we are even heading into a recession and if so when and why?

One thing to consider though is if a recession does come knocking in the near future and brings prices crashing down, an area like Newport is more resilient in holding onto value. 

I chose Section 8 investments as a hedge against inflation, recession, and massive unemployment.

Being a new multifamily investor in Florida, I'm interested to know how well multifamily properties held up during the last recession and what I could potentially expect come the next cool down.

As it stands they've said no rate hikes for the next 3 years.If they start seeing signs of Great Recession 2.0 (namely falling housing prices) rates will have to go lower to avoid another financial system crisis.

Some might argue that they are less recession proof but a lessProfitable STR market may end up as a wash with single family in this area.If you search you can find similar threads of single families having very lame returns around FWB and surrounding areas, unless you rehab/BRRRR them and then rent them.

Should I hang onto the $100k and wait for the inevitable recession?

Well the stock market has done well since the last recession, so in some ways I am jealous that I had money on the side lines or in real estate.  

STR lending saw haircuts this past week- LTV cut, reserves increased, FICO needs to be higher.NONQM (the big guys) have new product restrictions.We are in recession now.