I was the under capitalized landlord with $500K worth of mortgages between my house and two rental properties in 2008 before the financial crisis and making only $70K a year. As were most real estate investors back then.

And the reason I ended up back in an apartment for four years from 2012-2016.

And during those years I was fortunately in my mid to late 30s and could afford to stay in nice apartments in an upper income suburb of metro Atlanta.