Is this a sustainable strategy considering I'm not looking for cash flows?

Looking at places where rent averages 850+ (if there is a turn in the economy I want room to sustain lower rents).

But the end goal should be having you remove yourself from the business and have the business be self sustaining.

Decent, rehabbed Multi family is desperately needed in the area to sustain the workers that want to live in the area and not pay $1500/month in a tower rental.

Value based on current market data: $185,000 per unit, 11 PGIM, 5.5% cap rate.Is this sustainable?

Now that rate is not sustainable, but 18% (1.5%) is in the short term (12-24 months). 

I am not speaking o the longevity, viability or necessarily the life span. just saying why not use crypto currency for acquisition of assets, you can be anonymous and enjoy a continued and sustainable way of building and holding wealth.

;)"Won't near-record unaffordability levels make it difficult to sustain these prices, or cause a reversion if it continues?"

Take away their JOB and nothing to show for it or withstand a storm.As we all know different locations and lifestyles require a different amount of money; I believe that the idea should be to build enough "cashflow" to sustain and (over time) expand they lifestyle we are familiar with. 

Cause debt  is so costly, so literally telling you less leverage to keep this investment sustainable.