Small Multi-Family in Belmont, The Bronx

[Matt Z.]

Hi NYC Forum,

I currently invest and self-manage some small multi-family in "A" areas of New Haven, CT.  Love investing and living there, but looking toward the future it wouldn't be a bad idea to diversify. 

A possible next step for me is to go with something that is far enough away that I will hire-out management, but close enough that I could drive there on occasion when.   

Prices in Belmont for Small Multifamily (2-4 units) is very similar to what I encounter in New Haven.  I'm apprehensive on tenant quality and dealing with NYC regulation/bureaucracy/costs.  NYC tends to be a whole different animal then...well...anywhere else including the rest of NY State. 

I'm accustomed to amazing tenants and a generally reasonable attitude & policy from the city towards landlords & rehab projects. 

Anyone familiar with the area that can offer insights on investing there?