I ask this because I want to one day live off of rents that I receive, but I am worried that if I sell all of my properties after each cycle then I would essentially have to start over at the beginning of the next cycle in order to get my passive income back.

Leverage and velocity of equity for more cash flow and less debt in my hands is the process and cycle of gaining net worth and deducting cap ex and debts while collecting rents and depreciating assets rapidly for less tax liability.  

Happenes every cycle so this is no different.

The cap rates multifamily is trading at is crazy.Lot's of sellers pushing the idea of never ending above historical market rent growth and little to no vacancy levels.The stronger than normal rent growth and little vacancy is a cycle mini bubble that will not last.

headlines will show up.Commercial real estate is on a different cycle, but it's still a cycle.

Otherwise assessors are on a 2-ish year cycle for reassessments.  

I'm finding the RE market cycle we are in adds a degree of challenge to this method of investing.  

@Cheri Crane at this stage in the cycle keep your money in the bank and get so educated that YOU know the answer beyond a shadow of a doubt! 

I think the influx of out of state buyers is because of where we are in the market cycle not necessarily because people are being misled. 

Totally with you on looking at projections, where we are in the market cycle and value-add potential.