If you own a property and the market crashes, the crashed value of your property does not matter unless you try to sell or refinance the property.
Unfortunately, loan payment requirements don’t stop or change with the market, so it makes sense that this is a primary source of panic because regardless of anything on your property, you owe the bank (or whoever) money every month.
The market crashes. Because of the crash, the value of your property has tanked, so you can’t refinance to help make up for the monthly cash flow loss, and you can’t sell unless you are willing to take a significant loss.
A lot of people speculate that it’s unlikely to see a major decrease in rents during a crash because of the current supply-and-demand of housing.
So if Vegas’s one industry crashes for some amount of time, and the general demand for the city goes down, wouldn’t be be more likely that rent decreases may start occurring?
Buy all the properties you can during a crash!
If you buy a cash-flowing rental property, maybe you save your cash flow each month until you have a solid savings that you can use should any emergencies on the property come up or should a crash have you having to pay your mortgage out-of-pocket.