However, selling the house will free up lots of cash for you to invest into numerous other properties (I imagine with how long you have had the property for) but it may benefit you to hold it.

I have bought and sold numerous primary residences since 2012 but began investing in rentals in 2019 in texas. 

I can give numerous stories of when I’ve been so thankful I haven’t had to take care of an emergency.

Additionally, you should only get a negative COC return if one things happens - you have a negative cash flow, which is the numerator in the equation. 

In the end, it's about having numerous exit strategies and contingency plans for your properties so as to not put yourself into a hole.

Again, you can't really calculate or compare differences numerically, but you can definitely tell the difference between my spending money working for me all the time and yours sitting there doing nothing.

Major corporations like Intel, Honda, Nationwide Children's Hospital, and Wexner Medical Center are investing heavily in the region and creating numerous job opportunities.

If that is the case, then my postulation would be that some of the ultra rich have a fascination with NYC and money is no object to them so they will live where it most glamorous, and since land in NYC is a finite resource, and as the ultra wealthy become more numerous (as a function of overall population) the law of supply and demand kicks in and the prices of those over-the-top properties go up. 

I have found numerous properties in California mainly, 2bd2ba that generate about 300-400 dollars a month cash flow.

Suppliers alot of time tell homeowners they getting discounts but thats not the case.