If I am to invest as an LP, just based on my research, my GP of choice here on BP is @Brian BurkeI've been investing since 1999 and like Brian, I've never lost money for my investors even during the Great Recession of 2008-09.

That's concerning too because what if a recession hits us again?

Cash flow is recession resistant so take your time and find something that pencils out well.

There were lots of tax benefits or loopholes right before the tax reform act of 1986, which is what helped start the big recession that lasted into the 90s.

Class C are more "recession-resistant" than Class A.

Scottsdale and Phoenix performance in the last recession is not a matter of opinion.

LTR student tenants work if the 3 months is the summer when school is out but your situation is not that (I did this during the Great Recession when STR vacancy increased). 

As long as you have that return cushion and steady rentals (college students rent in recessions), you should be able to withstand a market drop.4.

If you are looking for a licensed professional who has cut his teeth learning the south side in and out during the recession, feel free to pm me.

More importantly, recessions don't operate on a time table.