@Hal Thompson has some good points, and I am not as up to date on the Vegas market as he is, but Vegas was hit hard in the recession, and prices dropped like a rock.

The tenant screening portion is vital if you think theres going to be a recession.

A friend of mine was selling a system that did this back in the depths of the recession.  

It's still functional, but the claw marks are deep and right at the recessed panel edges so sanding - patching - repainting is not going to work. 

I don't hold foreclosure against anyone, especially coming out of the recent recession.

@Brian Singh I am sure there were several similar statistics after dot com bust and '08 recession.

If we go into a recession then obviously people will move from there just like what happen with the last recession.Are their business big businesses moving to Nevada to help fix this issue?

Buying in hot markets In emerging up coming areas mainly for appreciation because everybody on here scared  you about investing in lower income properties ... then a Major recession hits hard and your 300k house is now worth 90k and all your tenants  Lost their good jobs .now your on the hook to pay everything on a bunch of expensive houses !

The IRS penalties are only around 4% as I recall (I actually know a couple people who did this during the recession so they could buy homes), and they're great to work with on payment plans.The IRS will send a letter to your employer saying what your W-4 filing status should be (for instance single, head of household), saying you aren't allowed to change that until you have paid back what you owe the IRS, and you will also agree to that with the IRS.If you start now, you could have a year and a half or so of being able to do this before the IRS gets in contact with you.Just remember you will have to pay it back and budget for it. 

A recessed bulb in a 15-foot ceiling with a 65-year-old tenant or cleaning gutters on a two-story house is pushing it.