Rents may be high, but where are taxes and insurance.

There are also several funds out there that provide high single digit yields that are low risk. 

This is mostly because they can't provide the high level of service that Buyers deserve and for now Sellers are still generally paying. 

The market is at historic highs and could break at any moment.

We have a high saturation of rentals that has caused the market to lose money. 

Harlem is undergoing a significant transformation, and properties like this one, which offer both historical significance and modern amenities, are in high demand.

The quality of available tenant varies drastically depending on the neighborhood.

Quote from @Brandon Croucier: Hi Kathy, at the end of the day the mortgage industry is so vast & wide it's essentially like trying to navigate the Sahara Desert.I highly recommend working with an experienced mortgage broker who knows the ins and outs of the industry to place you into the most competitive product for you.More times than not, people save money working with a small shop broker.Kathy,I wanted to revisit this to offer a a tad bit more and Brandon above is correct.

I highly recommend LIA (Landinvestor.co).

@Emily Gowen so as you pointed out you would not have to do a 1031 exchange on your current home to avoid the capital gains tax and coupled with what Dave Foster pointed out I think, speaking from experience you would have a high likelihood of success.