The question in my mind, and we can use Detroit as an example, is whether that is a local bottom or global bottom, local and global in the mathematical sense, not geographic.

It’s in the center of it all relative to NJ— and of course NYC, which is the global international market us RE investors in Hudson County can thank, for the opportunity to make money in RE.

The OP and I happen to reside in the same market, and I am attempting to offer advice that I believe applies to this market and rationale that I think can be applied with a grain of salt globally.

County (two separate agencies) had some gum in the works with getting one approved.

I work in biotech on global clinical trials for the central nervous system- my specialty is in neurodegenerative diseases, specifically Alzheimer's disease.

The setback set us back months from listing with a global pandemic scaring off the initial buyer's appetite. 

Based on the current market and future expectations for rates and global/macro economic conditions I would say cash flow.

Look at your deal from a global perspective how does it stack up to what's available around you. 

The city has done the investor no favors with the tax hikes, however they did everyone a solid with the anti-gentrification legislation, how they felt that would fix affordability is laughable but it will ultimately lower density and serve to drive new construction of SFH/Flats faster then letting the deep pocket guys continue to make bets on higher density buildings.With regards to your comments about 'generations' unless the city and the global economy at large hit the skids, you're talking on a timeline of a decade or two.

You cant always plan on a global pandemic but make sure that you have extra money in the budget for unexpected costs Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?