This decision of course would be based on your risk tolerance, investment objectives, time horizon and liquidity needs.

I ran some quick estimates with some rough numbers and would like to see if I am thinking about this correctly.If we assume a 5 year horizon (sell at year 5) and $6,000/month cash flow before taxes but after depreciation and interest.Assume a total equity of 60K is required and there are (3) other investors, so each puts in 15K including the business.If I pay out 8% quarterly to the three investors and pay them 50% of cashflow there isn't anything left over.

Will pref equity be converted to common for reinvestments for the remainder of the horizon?

If I am able to distribute that over a longer time horizon, the property has great cash flow.

It is always good to expand your horizons.

Youngstown is probably the most economically depressed of the cities on the list and while there are deals to be had there, I don't foresee any significant changes to the local economy on the near horizon.

There are a lot of people commuting from Beacon and Fishkill into the city currently, and I would bet on it being a good 30 year horizon for continually rising home prices within 2 hours of the city.@ Bob, I have to check out greatschools.com, I've been shooting in dark thus far.Thanks,Tim

Compare, with conservative estimates, a projected growth rate of rents, appreciation and necessary capex over a 3-5 year horizon.  

Sounds like potential changes to short term rentals are on the horizon though, so now may be a good time to start one if people haven’t already to be grandfathered on possible new restrictions. 

What is your investing time horizon?