This way there's low risk in the beginning.

I'm just gradually deleveraging, this next time by likely buying all in cash, and continuing to not lever my properties until cap rates are lower than interest rates... unless I can get cheap and low leverage debt through assumption.

Since these are high yield DEBT deals at 60% LTV or less on commercial property it’s a RELATIVELY low risk compared to value added or new build equity participations.  

I see so many landlords lowing money through rookie mistakes, yet they continue looking for more doors.

That is a fairly low priority issue for the Detroit police. 

The basement is too low to be rentable SF (unfortunately!)

It's low risk and tax free on the gain.

I agree 15 years is not a long time but what is occurring is jurisdictions then pass laws to protect the low cost housing.  

Why do you think the demand is low?

Is it wise to buy some units with high cash flow and low appreciation, and others with lower cash flow but high appreciation to diversify my portfolio?