If the market drops you can ride out to the next cycle without going underwater.

At this point in the cycle, I'd rather have that $55k in the bank. 

Why would there be bargains, if everything sells for full price in a very short time.Now if your financier insists on buying property, fully aware we are late in the cycle, and wants to gamble on appreciation in a highly cyclical sector then fine.A multifamily with no mortgage imho would be a much better proposition for you both as it will throw off cash and survive a change in conditions easily (without a mortgage)It wont be a bargain, but relatively safe

Scotiabank went through a similar cycle a few years earlier.Once you have seven, or more, residential mortgages, they all become a little tougher.

It’s for capturing long-term appreciation strategically at a lower point in the cycle, when it can be deployed to obtain bargains on great assets.  

(The more units the better) That is a crucial thing to consider this late in the economic cycle. 

I'll pick it up- I'm also listening to the BP Podcast with Joe Asamaoh- he's from my area- he briefly touched on this topic- he said he's been through quite a number of cycles with the market and gave some good advice

I know many people prefer to cycle through tenants so they can charge more each year with higher market rates.

Your story is very impressive because you are in an expensive area and also in a top(almost top) market cycle and you're crushing it!  

How is the market generally and what phase of the real estate cycle is your region/city/local neighborhood in presently?