In general, you have to be fairly immune to this kind of drama and emotion if you want to be a good investor over the long term, and it may actually be a sign you are mailing to the right folks.

So while we love rentals they are NOT immune from a severe economic downturn as we saw in the GFC.

But you are truly foolish if you think millions of people are going to be displaced out of the workforce at that rate of change and that RE is going to be completely immune to the fallout.  

@Wen WuIf you are thinking that the LLC makes you immune to a lawsuit, then you need to have a serious discussion with an experienced attorney to get the best informed answer to your question.  

MFH is largely immune from cycles as you can force value by raising rents and lowering expenses.

I would think the issue would be if rents soften and go down or you have vacancies.. keep in mind not all apartments did well in the down turn.. in Vegas many lost apartment complex's same with Phx.. when vacancy went to 30 to 50%.. they lost them to the bank.I know of one big apartment owner in Oregon who sold their prime Portland 3 and 4 caps chasing yield in vegas 100 million dollar roll up.bought vegas in 06 with max debt and by 2010 he lost the entire portfolio to foreclosure.. in the meltdown nothing was immune.. although Portland ( and this is all very regional) that rental market was strong.. but today as we sit here it is weakening in Portland rents are coming down.. and those that have built new complexs are going to be stressed  for sure.. when rents get higher than owning which is kind of what has happened.. this thought that millennials don't want houses is just not correct.. they are not brain dead.. they know rent is a waste of money so when our rents in PDX get to 2500 to 3k or they can buy a brand new 400k home for the same price.. that's who is buying my new builds its that 30 to 40 year old new family.

some worse than others of course. don't think for a minute that rentals are immune.. you have landlords competing for tenants start moving in with family.its not so much leverage as it is reserves..

This would not make you immune from estate tax though if it applies.

I’ve bec9ne immune to sob stories pleading and people’s plight in general.

The people at the city act as if they have immunity, even when they are wrong, they don't have to pay the piper or cut you slack..