We all have seen the movie "BAD NEIGHBOURS". what i mean to say is, It is very important to have a clean and nice neighborhood, Its just not going to be a property but it is an investment done from hard earned money so better have a safe and wise decision, In future even you sell it you should get the right price for it and just because f few properties whole streets value goes down. so think twice to make a decision!!

I'm thinking about putting the money somewhere 'safe'(maybe something like us treasury money market fund) that would give me enough returns to match inflation, so that i could then invest that when there is a downturn/correction/recession, without losing any of my buying power.

AVR of 3.7M calculated with a very safe 5% vacancy.WHAT DO I OFFER FOR PURCHASE PRICE?

And since just about every top luxury brand in the world is represented there now I think it's going to continue to be one of the playgrounds of the rich for a long time to come. 

You never know, maybe higher, but I'd re-run with a more conservative rent just to be safe.

@John Park if the tenant describes feelings of dread, or if you want to be on the safe side you might call out the gas company to do a check. 

if he is recovering from a stroke it may not be safe for him to live alone.If they do apply either deny because of bad credit or a lack of income or tell them you decided to go with another applicant.

In the run up in real estate prices from 2011, a bunch of institutional investors realized how safe of an asset multifamily was.

Is it located in a safe, quiet area, desirable area?

Just play it safe until then.