In-Laws Have Several Rental Properties - Said We Should Do The Same

Background: Wife and I combine for 130k gross base salary, with potential for 175m with bonuses (purely dependent on market). The in-laws live 2 hours away in a major Texas metro area and have 3-4 rental properties and said we should do the same. However, we are currently renters ourselves but long term plan moving closer to them.

The suburbs we’re looking at have 200,000 brand new construction homes. We have 100k cash saved up, extremely stable jobs, and I have 800+ credit score. I’m professionally in a quasi commercial real estate role, and get real time market and sub market data (green street, etc). I , like every other private equity firm and financial expert, believe in a 2019 - 2020 recession or slowdown and think would be a ripe time for picking up rental houses on the cheap. The in-laws have a “broker” family friend running the leasing and tenant logistics while paying a small cut for commission so we’d probably use her as well, while keeping assets, bank accounts, titles etc completely separate from them (her family)

To me - this sounds like a complete no brainer. The mortgages would be cheap enough that we can still pay it off with prolonged vacancy.

r/real estate investing - you guys have any thoughts for a first time residential property investor in my scenario? Talk some sense into me.