You should continue with both strategies and use them independent of each other to grow your total wealth. I

You have to outline IN DETAIL everything you bring to the table and will do, showing that you are the workhorse of the deal (2) take a family loan from a wealthy family member or friend, or (3) get REALLY good at saving until you've saved enough to do your first deal.

Long day:I'm mid thirties and in fairly reasonable shape, working out and maintaining a TIGHT chicken wing and craft beer diet.

But, in general, these are better ways to grow wealth than more conservative repositions of assets that already cash-flow.So, assuming the above is right, if you don't need the capital back for a while and don't need the added cash flow in the short term, are the higher IRRs associated with deeper value adds just simply better risk-adjusted deals for building long-term wealth?  I

I am not a wealthy person, $350 means a lot to my husband and I and he's supposed to be some kind of millionaire. 

If you are not independently wealthy and are growing a portfolio then I would lean towards class c properties.  

This isn't about the demise of NY, but the plethora of options available to wealthy city dwellers and the new normal which is a shift away from these congested city centers to upscale suburban living.

As Robert Kiyosaki said, true wealth is measured in the number of days you don't have to work where your passive income exceeds your expenses.

Most real estate wealth is created through price appreciation, note amortization and reinvestment of cash flow.  

The awesomely wealthy Rockefeller once said that he knew it was time to sell his stocks in 1929 when his shoe shiner was offering stock tips.I see more and more normally non-RE folks talking about buying rentals so my froth antennae are up,  but I still see good demand for rentals and a tight supply of houses for sale in my area.