@Tom HallAt 7% if you can I would pay it down as investing it net after tax gains may not get you the 7% you are paying - so it’s less riskDownside is you lose liquidity of that money as it’s tied in your propertyIf rates come down in future you can refinance and even take some of the cash out.Regarding your question are rates coming down, a lot of factors come into play but right now it does not appear there will be significant changes to rates over next 3-6 months.

But if I had a lot more liquid capital and had the choice, I would buy newer ones.

If we face any headwinds, liquid investments go first so probably crypto but then you bet equities will get pressed.

It isn't impossible but as @Jimmy Lieu mentioned, there is a steep learning curve.Depending on your liquidity, out-of-state buy & hold rentals could be your best bet if NYC investing is out of the picture.

I cant tell you how many rescue loans Ive underwritten for small businesses who relied on a LoC for liquidity and then had the line frozen or called unexpectedly.

The cash you have on hand in liquid reserves allows you to focus on properties that "Are Not" turn key and could use a little TLC or renovation. 

If I had a large amount of liquid capital, do you think I should use it to purchase fixed assets or for some project development, which would be more suitable?

We have managed to build a solid liquid nest egg, but I'm hesitant to lock the majority of it up in a low LTV mortgage on a really expensive primary residence.

It seems like I need to check further away from the DMV area.My feelings are if you want “cash flow” you should buy a bond (I really like the tips rate right now) there is next to no reason to buy real estate for cash flow, if you are going to buy you should buy with appreciation in mind, which is not to say that’s the route I’d go, I’ve been liquidating properties to put in stocks and money market funds over the last few years and u just did the math and I’ve come out well ahead, but just to say there are arguments for stocks/bonds, there are arguments for levered appreciation, but the cap rates pretty much anywhere aren’t worth it vs an inflation protected bond, especially since a 3/rd of inflation is real estate anywhere, you could get “cash flow” and inflation protection much easier through a tips.

They appear to have run into liquidity and cash flow issues currently and worst of all have gone dark and not shared any of the requested financial information.