I'll echo Zach here a little to give my own perspective if it helps.- It's very difficult to argue about travel being a business expense if you're just going to look at properties, I would argue against it in a majority of cases.- Depends on what you're doing specifically, but usually I'd recommend getting an EIN at least to give access to business bank accounts- Repeating #1, if you're going to a property and 100% of your time is spent doing renovations and the like, sure, but if any of it is for personal benefit, that'd be disallowed.

We saw huge appreciation in the 2018-2022 inflation run up, but that has significantly slowed these days in my opinion.From a rental perspective your monthly income per unit after all expenses with a typical 20% down payment is likely $100-300 when you find a property that will cash flow.

James' book has a bit of a different perspective and I think both are valuable to expand your knowledge and experience.  

Appreciate you taking the time to outline these thoughts.I have not spoken to local lenders or contractors yet, as I'm still in the preliminary stages of evaluating the opportunity from a numbers perspective. 

Sometimes, seeing the same situation through a different perspective can be helpful. 

While I haven’t invested in NYC specifically, I can share a bit of perspective: For a 3-year timeline, buying can make sense if you’re confident in the market’s appreciation and can find a condo with flexibility for renting it out later.

As time goes on, if you talk to enough people, you will understand who has valid perspectives.

I appreciate this alternative perspective @Zeona McIntyre!

It's nice to hear a different perspective. 

I see the original post was made almost 3 years ago, so I’m definitely curious how your perspective might have evolved given the market’s ups and downs since then.