All of my properties are student rentals, which helps offset payment risk because most students are paying with a combination of student loans, grants, stipends, or academic/athletic scholarships that are pre-funded before any pandemic hits.

Has the city created a recovery plan?

I anticipate that will begin to turn a corner now that so many companies are requiring employees to return to the office, but we've yet to see a full recovery. 

😊Essentially, Congress is allowing "cost recovery" deductions without regard to obsolescence.ACRS eliminated salvage value, minimized exceptions and elections, and moved away from the useful life concept.ACRS allowed depreciation deductions for recovery property over a predetermined recovery period by applying a statutory percentage to its basis (cost).Under ACRS allowed "depreciation deductions" no longer correspond to literal depreciation.

So if you have connections to influencers, television, athletes, producers, and musicians that could make use of a higher-end property consistently, you may have an advantage.

But I will not be cashing it out right away, in case the market drops I will wait for recovery.

., I've made a good recovery after a lot of tears and hard work. 

In a "bubble" your strategy should be no different than it usually is... you should always be seeking ways of limiting your risk through (1) acquiring well built properties in (2) good neighborhoods for (3) below market price using a (4) conservative financing / debt structure, (5) buying only properties that you can improve, and (6) offering them to customers (your tenants) at competitive rental rates, and (7) managing them well.If you are actively doing these things, the market phases isn't as relevant... you will always be able to offer a good product and service to a paying high quality customer (your tenant).If you're below there is a market bottom coming, it also may make sense to horde your cash and acquire when you believe the market you're watching has hit bottom and is beginning a recovery.

Did you put an energy-recovery ventilation unit in each apartment?

Bill You should start by contacting the Real Estate Board: There is a recovery fund for consumers who have been damaged by Brokers. http://www.dre.ca.gov/consumers/consumerrecoveryaccount.html  One of the most common reasons for Brokers to get in trouble with the board is for this kind of thing.