Harlem, NYC, NY Purchase

[Daniel C.]

Hello Everyone, 

I am new to the game and want to start off right. I am preapproved for a VA Loan at $750,000. I will be in the area for at least five years. I at least want to get a 2+ bedroom and rent out the rooms, or even find a multifamily if possible. What I am unsure about is what cushion I need to prepare to have for living in Manhattan, what costs I need to account for when assessing my cash flow in the property, and how to find a good deal in that market. As a VA loan, I am looking to make offers as early as late June, closing in early August - unless anyone sees a better way.

Any advice is appreciated.