I'm also concerned about where we are in the economic cycle and that we may be in for a downturn soon.

In reality, finding an economically viable way to manage a park this size will be a challenge. 

@Elizabeth Marquez Huntsville has much better economic and demographic trends that Birmingham.

Some prices have been cut to be mild values- based on the 2019 economy but still nothing coming close to representing the current economic conditions.

Still Scrambling, and on the Verge of PanicOthers say they still haven’t recovered from the economic roller coaster of the last couple decades.

John Hussman, a former professor of economics at University of Michigan, says that the U.S. stock market is “at the most offensive level of overvaluation in history” and believes that the expected 10-year return of the market is less than zero."

There were already 2 kitchens and 2 living areas so the remodel was much more economical.

The core criteria to consider for your area include:- number of well paying jobs in the area- number of people moving to the area to take those well paying jobs (short-term assignments and indefinite)- number of employers who move workers into the area to fill those jobs - frequency of 30+ day vacationers If the above economic criteria look good, then there are a few basic criteria for the unit itself:- easy parking- decent neighborhood- kitchen or kitchenette- low price per bedroom compared to an extended stay hotel Good luck!

Loans on properties where the owner is the occupant have 100 x the rules/regulations after the mortgage crisis compared to non owner occupied investment properties. 

In a reversion people may down grade to lower cost units and the Class A stuff might take a hit because they will have to lower rents to compete.If you have cash, you may be able to get properties at a significant discount from owners that bought poorly or over paid during the sellers market.Generally speaking the default rate for multifamily remained low during the 2008 crisis, most of the losses were concentrated in a few markets (Phoenix and Miami come to mind).