Why to Invest/not Invest in a market that doesn't cash flow?

[Hila Aroch]

Hi! My husband and I are looking to get into real estate investment.

We don't have much time to manage and search for cash flowing opportunities and are looking to start with a safe investment for long term appreciation.

So we're thinking to purchase a 1BR condo in Brooklyn, NY.

Based on our estimates we'll be able to break even our costs (no cash flow).

We believe that over 10+ years (Investment horizon) the area will appreciate at least 3%, and so with a 25% down payment we should net a 12% appreciation (3%/25%).

What reasons do we have not to go with this strategy - what are we missing?

Thanks!

Hila