I personally wouldn't want to get into rental business unless: A) I had enough to pay it off own; B) I had a large portfolio of properties (10 rental units or more), and could afford to sustain certain vacancy rate and deal with some non-paying tenants.

There is a chance they could qualify for a modification if thier combined income is not sufficient to sustain the property.

Likely go up as taxes increase and it'll be hard to sustain the current operating expenses as the owners have owned this for decades. 

I feel like one or two flips is all i would need to have cash flow necessary to be self sustaining.

If you stick with it you may find something that resonates with you.

It starts off as a good thing, but it can not be sustained and I think that is the problem that Josh is alluding to as hurting you in the end.

I would defiantly sacrafice todays cash flow for some upward movement in values and sustainability in the tenant base.. just personal opinion of course..

As a new investor saving for my first buy and hold purchase, I'm concerned that my analysis is assuming a rental rate that is not sustainable.

Will people always want to live here probably but insanely high prices are sustained by a variety of factors including FDI investment, the best jobs being here, older folks who move to the city because they sold their own home and want to live here, etc.

This way, in the event of regulations, you are covering yourself from potential large losses/the property no longer being sustainable.