Even oil is more desirable than electric heat.

Your desire to learn and be an example and pass down a legacy to your posterity resonates with me strongly, as that is my plan as well.My husband is in the Coast Guard and we're in the process of purchasing our first property with the VA Loan in Oakland, CA.  

They tend to be expensive, but are desirable as rentals and generally appreciate well.

From the pool of inquiries, there would have been much more applicants except I let people know that there were already too many applicants AND that they MUST meet my criteria of over 700 Credit Score, 45 times monthly rent AND have a healthy savings account to weather the lockdown.I chose the best applicant who made $200k per year and had $200k in savings as well as over 700 FICO.Apts like mine in buildings like mine are incredibly desireable now.Basically, there's a huge problem with skyrises and Pandemics.People are afraid that if they get into an elevator that they could be trapped in a small space with someone that has the virus, which will then transmit it to them.Also, the management for the skyrise buildings are not permitting IN PERSON showings AND many are not allowing moving in or out of the building because of the risk of increasing the transmission to vulnerable tenants within their buildings.That narrows down the amount of available apts.Buildings like mine, non-Elevator walk up buildings which are low density and separate Garden Apts, are now the most desireable buildings to own in a Pandemic in NYC, as I am seeing anedotally.However, this is only true if you are in the right kind of City, where most of the buildings will be very large skyrise elevator buildings where there are huge amount of renters.Adding to the attractiveness of low density buildings is the fact that NYC is the EPICENTER of the COVID-19 pandemic.Yes, this is one single datapoint.

Showing up with debt service in desirable areas where people are competing with cash is like taking a knife to a gunfight.

You know what streets have high crime, which have good school, and which are in desirable areas. 

Tremont is extremely desirable and vacancy is low.

(that's just words).They don't want to see a before and after picture of a flip you did (anyone can download one from internet).They don't care to read 5 pages of text where you explain to them why you are awesome or why the motivated seller should believe you are credible.Credibility is not "the completion of a certain set of tasks", like putting a picture up of yourself "flipping a house" on your website.Credibility is the desired EFFECT, completing a certain set of tasks has on someone.Credibility is the temporary substitution of thrust (that you didn't earn) someone will have in you.In other words, you and I could do the exact same task, but for me, it may still work while for you it absolutely doesn't.That said, there are no rules for credibility.

So from a “cash flow” standpoint, CA is less favorable over other options, but if you buy right, time it right, and have a long term outlook, CA can provide some of the highest appreciation rates in the country and when you apply leverage responsibly, your total returns can be quite large.One needs to decide their goals and then have the abilities and desires to get there.

You normally have to find a balance between living on the lake front or living in a less desirable area.