Many investors with purchase or refi into the DSCR loans to "free up slots" with Fannie/Freddie loans so they can continue to get the benefit of low down payment properties when house hacking. 

He sounds like a young version of me: I own a rental RE business, work a traditional full-time W2, teach adjunct university on the side, do some of the rehab work on my new units myself, and still find slots for family (wife, adult kids, siblings, parents), dog, playing in a professional band, and other stuff.

I try to group say 4 or 5 tenants together for 1 time slot with the expectation of a bunch of no shows.

We plan on continuing to purchase properties in our individual names until we max out our available slots. 

If so, this might be a way to free up your FHA slot.

Are there off years, of course, just like any other region NYC is not immune to market conditions - however in the long term, NYC is an appreciation, equity, and tax writeoff gameplay. 

Leave an American flag on the front flag slot or install one with two screws.

Of course, all of that would go away if they learned how to partner properly and use other methods to close in their name, but, many are just game players. 

They will take a check for $5K and reserve a slot..

Their stories often make it seem as easy as dropping a quarter into a slot machine that always pays out.Perhaps you'd consider partnering with someone who would willingly rehab the properties you find in order to add value.