Did their wealth survive such an event?

@Brent Coombs At this point I'm still in analysis mode, looking at properties that I can afford a 20% down payment with.  

I have been dealing with SFH but i am now on that transition mode from SFH to MFH and considering my research, i think i can pull off a MFH for under 20years old.................In summary: I depends with your market, you market determines what kind of inventory you're likely to get a good deal on.  

If these are rentals, could you survive multiple vacancies at once?  

You might just go into skip trace mode now if you question is the latter.

Of all the ways to acquire property in real estate, I see it as the most likely to get an someone inexperienced in the mode of investment in a lot of trouble.

I have a couple vacation rental properties that do pretty well and like the Vacation Rental model.  I

Another business model I don't want to be in.

You also want markets where tenants and rental dynamics can survive a recession.The 1% rule is only a rule of thumb, and in most markets doesn't cash flow well enough either.

I think you must always be thinking about growth but be smart about it.1) If your business model is working, ensure that you can automate as many steps of it as possible.2) Whatever cannot be automated, delegate to others.