How do investors even cash flow in NYC or SF Bay Area, CA?

[Susan Tan]

We know that HCOL cities have high rent, high property taxes, and high prices for everything. This year, my Slack acquaintance couple purchased a $2.6 million 3bedroom condo apartment in Greenwich Village, Manhattan with intention to rent it out in a few years to pay off their $4k/month mortgage. I'm skeptical if this HCOL apartment will even cash flow. If you're an investor in a HCOL major city, are you seeing any cap rates at today's prices in the HCOL cities where your properties are located?