It goes deeper than that.NYC Liberal policies, including strong tenant protections, increases the risk of failure so much that the risk far outweighs the rewards.Financial ruin is just around the corner for the small Mom and Pop Property Investor that it doesn't make sense for them.The Tenants will have free Attorneys that are bent on delaying eviction cases so long that it stretches into years while Mom and Pop suffer from lack of rental income and still have to pay all the bills and do the management.Additionally, the increase in homeless living rough in the streets due to Sanctuary laws causing a lack of shelter beds, then evicting shelter residents after 30 days creating more homelessness, policies that tie up the Police's ability to arrest perpetrators, etc. only causes Mom and Pop to sell out at large discounts to larger Landlords who are capable to use Economies of Scale to eek out a profit.These larger Landlords will eventually turn a much higher profit as the pendulum will eventually swing towards the middle when the NYC Voting population eventually realizes that it's not a conspiracy of the Rich that's causing the Wealth Gap to increase.It's the same liberal laws that encourage people to become lifelong tenants, small Entrepreneurs (including Property Owners and small Mom and Pop Businesses) to be destroyed, and Rents to rise astronomically as housing becomes scarer even when the population declines by as much as 7% in the last several years. 

As everyone is well aware the cost of investing in California is astronomical so I’ve turned my attention to long distance investing. 

So, we've shifted gears for our real estate investing strategy to just purchasing a long-term rental.After joining this group and learning a lot, and given the housing prices in the Greater Seattle area, the lower rent-to-price ratios, bad landlord-tenant laws, and the astronomical prices, we are seriously considering investing out of state.

Besides, new constructions are selling for astronomical price out of the reach of ordinary Americans (why would they sell for less than a current marker value?

Federal land in the middle of nowhere does not solve the crisis, crisis can be solved by smarter planning, better use of land and getting politicians to cut through the red tape where costs to develop are astronomical. 

Its getting to the point where the rates almost have to be so astronomical that people simply can't afford them. 

If argue this just do some research on inherited wealth, it does not hold a good track record, failure rate is astronomically high.

The return I go on $28k is astronomical and allowed me to buy other properties with the equity growth later.So it doesn't really matter if I make $1 million minus $28k invested ($972k) or $1 Million minus $21k invested.I know a lot of Investors here on BP seem to think that's a big deal or that I shouldn't buy for appreciation, but you can read my post.

I turned to the management company (everything is recorded in emails that the payment was made, etc.)I turned directly to hoaThey claim that they can not do anything because the matter is already handled by lawyers.And if I wanted to sue their management company.I turned to the lawyers (every call to them is subject to an astronomical fee, the management company that manages the properties for me,In fact, unknowingly, inflated the debt when they tried to find out what it was about and why the whole mess?

The days of listing your renovated investment for an astronomical price are gone for the immediate future.