Also, you have to realize that the vacancies have gone down as I build up a more steady supply of tenants over time.

It's a slower steady method unlike flipping, but that's a completely different strategy.

Supplies: can of stain, rag.  

Pratyush Singh try modern builders supply, I use the store in dayton and they are very good and reasonably priced.

They will be a passive investor, buying for a steady and consistent return.Specifically, as you asked about market dips, ideally you wouldn't sell it if it is still performing from a rent and return standpoint.  

I wanted 12 -18% cap rates (interest rates were MUCH higher), and real estate I could buy for 25% + below REAL value.Immediately after the crash of 2008 I sought properties in the most devastated areas (Phoenix, Miami, Las Vegas) that were (1) class A (2) one third previous sale price (3) 8-10 cap rate on residential.Now I look at properties with a steady cash flow (depending on risk and property type), have rents that are short term adjustable in case of high inflation and have a potential equity "kicker", such as neighborhood being developed, restrictive zoning, university expansion, etc.I now divide my portfolio in three areas, not always mutually exclusive.  1- short term mortgage notes or long term mortgage notes purchased at large discounts (secured by commercial properties) for cash flow.  

Just like with the housing bubble, this is a supply and demand problem.

I have a fairly steady rental property.

The clerk supplied the telephone number and name of the person to contact.The assistant for the contact person advised that there would be no title issued because the property was in fact scheduled to be sold in the courthouse.

Look for steady W2 income, look for a clean criminal record, look for no court judgments, get input from the prior landlord, etc., etc., etc.These are human beings and they are living the human existence.