If you’re going to find a niche understand what happens during all economic cycles.

Keep your cashflow saved and keep your equity at healthy levels - have reserves ready and an exit strategy with key markers to trigger exit if necessary and remember recessions end.Investing during recession is the same as investing during the other phases of the cycle - if your NPV is greater than zero you're making a profit :)

Those here who are familiar with more conventional investing may know about life-cycle funds. 

I would NOT BANK on appreciation at this point in the cycle.

In warmer climates, a slab on grade may be fine, but not in an area that experiences seasonal freeze/thaw cycles.

@Paul JumpMy niche is multifamily syndications, and the data we look for in a deal is:- Market Performance: Rent Growth, Market Vacancy, Long-Term Vacancy Average, Adverse Cycle Occupancy Bottom, Median Income, Employment Pool, Rent to Cost of Ownership, Income to Housing Cost Ratio, Market Rankings, Construction/Absorption Ratio, Pricing, Cap Rates, Trends in Capital Market, Etc. - Forecasted Market Performance of the Same- Property Specific Performance: Asking Rents, Actual Rents, Vacancy, New Lease Trade-Outs, Average Vacant Days, Lease Terms, Retention Rates, Renewal Trade-Outs, Sales Record, Renovations Completed, Market Comparable Amenities based on Class of Asset, Revenue, Rent Roll, Trailing 12 Months of Operating Expenses, Property Taxes, Property Insurance, Market Trends of Specific Floor Plans, Etc. 

Good to decide how much debt and where in the cycle will you carry the most, least etc. 

Thanks for the clarification, I've never lived through a full cycle exchange so wasn't sure the qualifications. 

Currently, I am invested as an LP into 17 deals over the last two years and at this time each one is at or above the net operating income marks vs the projections at this point in the deal -- three of them have now gone full cycle as well. 

Go through another Spring and Fall cycle.