depends on location in the 08 meltdown.... many markets landlords experienced 100% vacancy  other markets were not affected at all.areas that were very heavy in new construction like AZ FLA GA VEGAS landlords had plenty of vacancies and I know first hand investors that had 4 plexs in AZ that lost them to the bank bbecause of 100% vacancy.I am not predicting another meltdown like 08 by any means just stating fact

What about considering a neighboring market that you could drive to like Las Vegas, or Phx? 

@Gaetano Ciambriello Thank you so much for that information, it was very helpful and is going to have me really sit down and think about my decisions and my strategy for my first few properties.I live in Las Vegas and I love it and don’t want to move just to start a portfolio of investment properties, so what would you advise someone in my shoes starting out to do when there happy with there living arrangements and just want to build successful business around real estate.

In Vegas we want vacancies far and away to fall during the first month of school vacation. failing that, anything but dec 1st to Jan 31st is better than those 2 months. 

The property is in Ely, NV, roughly about 3.5 hours from Vegas.

Fourplexes in Vegas are going for around 500-700k depending on the condition and area.

I kicked the tires on a few in Las Vegas several years ago and could never make the numbers make sense. 

I have lenders in Las Vegas I work with.

This is good news for landlords who thought the hedge funds were going to ruin the rental market in Las Vegas.

You now have an oldsmobile, a vega, and a dodge pickup.