Real estate is very risky, and that risk is more heightened given where we're at in the economic cycle.

Before and after the economic collapse.

What I'm wondering if there is a good chance that a major recession like the 2008 housing crisis is coming soon within this year or next year. 

Why people want to prevent economic progress is more than I can understand.

So, as long as the trips are economically sensible, and your primary purpose is business - then you can deduct 100% of the tickets and the business portion of all other costs. 

@Carly BaumWhen investing out of state, you have several considerations:1) Economic Trends of the Local Market (Job Growth, Population Growth, Housing Market, Migration)2) Having some familiarity with the area or friends/family who live there3) Likelihood of Travel to the MarketPhoenix has #1 above covered in spades.

I am a broker, an agent, a property manager, interior designer, general contractor, carpenter, painter, drywaller, general handy woman, economics nerd and maybe a bit of a conspiracy theorist ;).

Please let me know is it worth to go that route or there any other route which is economic.

If you want to accomplish this economically you can simply look for a residential designer, a draftsman to help you out at this phase. 

You'll want to coat it every couple of years but that is the most economical option in my opinion.3.