Can New York Metro ever cash flow?

[Account Closed]

Even though the NY metro market has been better than it has been in years, I still cannot see a way for a small time investor to cash flow.

Small time investor (in my mind) meaning someone or an entity owning and operating only a few properties (SFRs or apartments).

I understand that some folks do flip condos and houses and can make a profit, but what about buy and holders - those that like to buy and rent out for some monthly cash flow?

Not only are prices still high, but most of the units here are co-ops meaning 99% of the time, you HAVE to be an owner-occupant & cannot rent out/sublet. Even IF you happen to find the extremely rare co-op that lets you rent out your unit, you would have to go through the whole co-op board interview and have them know every little detail about your life before they would consider approving you too be a shareholder.

Has anyone here EVER had a cash-flowing property in New York metro (manhattan, bklyn, queens)? If yes, would you please share how you got there? Thanks!