It goes deeper than that.NYC Liberal policies, including strong tenant protections, increases the risk of failure so much that the risk far outweighs the rewards.Financial ruin is just around the corner for the small Mom and Pop Property Investor that it doesn't make sense for them.The Tenants will have free Attorneys that are bent on delaying eviction cases so long that it stretches into years while Mom and Pop suffer from lack of rental income and still have to pay all the bills and do the management.Additionally, the increase in homeless living rough in the streets due to Sanctuary laws causing a lack of shelter beds, then evicting shelter residents after 30 days creating more homelessness, policies that tie up the Police's ability to arrest perpetrators, etc. only causes Mom and Pop to sell out at large discounts to larger Landlords who are capable to use Economies of Scale to eek out a profit.These larger Landlords will eventually turn a much higher profit as the pendulum will eventually swing towards the middle when the NYC Voting population eventually realizes that it's not a conspiracy of the Rich that's causing the Wealth Gap to increase.It's the same liberal laws that encourage people to become lifelong tenants, small Entrepreneurs (including Property Owners and small Mom and Pop Businesses) to be destroyed, and Rents to rise astronomically as housing becomes scarer even when the population declines by as much as 7% in the last several years. 

Detroit streets are paved with the bones of bankrupt investors that said "It made sense on paper!"

In my city it's very street by street.

Lakewood, OH area has been all the hype and it looks like the sales price is dropping the further East you venture towards W117th street.

submitted a loan app to easy street not too long ago still haven't heard back 

Even the side of the street that the QSR is on matters. 

With going rate right now, as I am friends with other owners on my street and have their opinions, I could easily get $1800-$2k/month.

FinCen not having your correct "STREET" address, no PO Boxes, and no private Boxes are allowed, and you would be in violation. 

A greater share of homeless individuals are now off the streets, however, after the city expanded shelter availability.

Basically, just like any market, you can fail - but it can so easily be avoided when you have the resources and expertise needed to navigate it.For Crime Rates in the City Proper see here: https://crimegrade.org/safest-places-in-scranton-pa/ Just like any city, it varies heavily street to street, but is overall a solid place to invest.