House Hacking in New York City

[David Cianci]

Hello all,

If I were to consider house hacking in NYC, what type of cash flow do you believe I would be able to receive? 

Lets assume that I purchase a duplex for 300-400k in The Bronx or Brooklyn, make some cosmetic repairs between 25k-50k. 

I'm sure my cash flow could vary based on the loan I would receive since I could use a first time home buyer loan but lets assume that I use a 30 year fixed FHA mortgage at 7%.

Based on my projections I assume I would earn a negative cash flow between $400-$1,000 annually lol. 

Hoping to get some thoughts on whether my projections are severely off, whether house hacking in NYC would be a good idea at all, or if house hacking in NYC due to the landlord laws would make my investment more of a hassle.