Someone else can correct me If I'm speaking out of turn, but I strongly believe at the leverage + deal size you're discussing, Fannie/Freddie will only offer you at best 25 or 30 year amortization payments, rather than interest only payments, which is going to further depress your cash flow. 

The same thing happened to people coming out of the Great Depression who hoarded cash their whole lives believing the next Great Depression was just beyond the horizon.

The global pandemic shattered the world order and the US economy suffered its biggest blow since the Great Depression in the second quarter.

I'm sure you'd agree that the american economy most likely would've gone into a depression without fed dropping interest rates in 2009 and massively expanding their balance sheet.

There is a depressed neighborhood in my back yard (Newark, NJ) that has tons of homes with potential but are dilapidated.

Obviously given my experience i'm biased, but another aspect I don't like about NYC is the ROI is often very depressed. 4-5% is a good return for your average turn key investment locally, wherein most other places in the US will exceed a minimum of 8%. 

The Bigger They Are, The Harder They Fall...in a Recession, leading to a Depression."

Focus is cash flowing properties in depressed neighborhoods, but hopefully with potential for future turnaround.

In addition, the 15 year amortization means a depressed CoC return rate since more is being poured into equity each month.Thanks in advance for the fresh eyes and perspective.

He eventually had 4 open-heart surgeries, was depressed, etc.Now that it is 20 years later, comparing it to my well oiled Investment property, because of my prime location, the appreciation I received is far higher than his, my cash flow is also far higher as the rents skyrocketed in my areas, AND I spent WAY less in Medical costs that he did.While I don't want to attribute all the Medical Health issue towards these difficult to manage yet higher cash flowing properties, I can see what it did to him as he would call me asking advice on what he should do.If he were to add in the medical costs and health problems, over the 20 years, I'm so glad I did not go down the high cash flow route.I can enjoy my Investments because of the lack of Stress from all these years.