The characteristics defined by the location include:Total capital required: If you can grow your portfolio using accumulated equity by cash-out refinancing, which is only possible in areas with high appreciation, you'll need considerably less capital from your savings.Inflation protection: Whether rents outpace inflation, enabling you to sustain your lifestyle indefinitely, only occurs in cities with significant and sustained population growth.Income persistence: How long your income will last.

If its well built and maintained, it can last indefinitely.7.

@Joey Harris,The 1031 is designed to allow you to indefinitely defer paying tax on profit and depreciation recapture (a big big deal over time).  

So change the question and ask if you can afford that negative cash flow indefinitely. 

An at sale you get to take some of the profit tax free and indefinitely defer the tax on the rest.It's an awesome strategy. 

We were informed by our tax guy this year that since personal business income exceeds $150k, our investment real estate losses cannot be written off against our non-real-estate income but rather carried forward indefinitely until sale.

@Anthony Quint, the 1031 exchange is something you don't have in CA that allows you to sell appreciated real estate in the US and purchase new real estate while indefinitely deferring paying tax on profits.The thing about this for a non US citizen is that you will be subject to a 15% withholding called the FIRPTA withholding tax. 

That would indefinitely defer all tax and depreciation recapture. 

Sounds like a fine thing for carmakers to do, on average.

I buy with the intent to hold indefinitely.