That's actually not exactly how it works.The Fed is currently in a rate hike cycle, so we'll focus on that.

As a family, try to become aligned around the idea that you are busting out of the cycle that perpetually keeps everyone working and no one building wealth.

I’m an architect/developer at heart, so the dream would be to eventually do a lead a development deal of my own either by myself or with partners.I am not personally high on my local market in the next RE cycle, and am looking to get connected and invested in an area (or areas) that forecast strong population and job growth, but are also relatively close to my home base in NYC.I am looking to get started in the Raleigh area, and would like to have my first investment made this year (SFR, duplex, also open to partnering on a larger MF deal).

But there is a full economic and interest rate cycle ahead of us in the next decade.

Utilities, trash, property taxes and insurance for the duration of the rehab and selling cycle to consider...

It cycles on the same month every year.  

. ;-)  I've been at this for 30 years so I have a different perspective.Here are a couple of things for your consideration (and anyone else investing)1) Nobody who had a "paid off" property lost it to foreclosure in the last 5 real estate down cycles  (This is a BIG thing)2) You can always borrow against a "paid off" property if you need to3) All the money coming from rents is PROFIT after the loan is "paid off"4) You can't begin to guess what the next 30 years will bring and you are making assumptions you have no right to make about how "safe" a 30 year mortgage will be.5) You have a LOT more flexibility when it comes to "paid off" properties than properties that have "liens" (mortgages) against them. 6) By paying off the properties faster, you can borrower against them in the future to scoop up great deals from people who didn't plan ahead and have 30 year loans and need to sell fast. 7) My point is: treat it like a business.

Less equity may result in a less stable neighborhood during future economic cycles.

Inflation alone is now coming home to roost AND by every law of economics it does not happen quickly, this is a cycle thing, 4X to be exact, before stability is realized or I should say CAN be realized.

I've lived through a cycle and anything under 12 months is a bit soon to be calling things a deal, IMHO.  10% is not a deal if values drop by 25% over the next year.