Getting that first property is exciting—and yeah, NYC is no joke when it comes to price of entry.Honestly, a lot of people I’ve talked to in your shoes end up finding better opportunities just outside the city.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

And each year when the lease comes up for renewal, I ask them to contact the housing authority and ask for a rent increase.

And your simply charging points and keeping the points and then a service fee. ( interest rate delta). 

I am sure something will come up as I am still relatively new to the STR hosting.

What did you end up doing? 

If you move your expectations to keeping some money in, but refinancing out as much as you can then you'll be set up to not be let down from the jump.

That shows real estate can be possible for anyone; in my opinion, I know everyone has unique and challenging situations, but in principle, anyone who can follow some basic budget fundamentals can save up enough for a down payment.Grateful BiggerPockets continues to bring more people into the industry!

Although I know most sec 8 landlords use it because of the perception of guaranteed rents.As a small home builder I really dont know how they are going to lower the cost of new construction housing unless the govmit subsidizes it somehow.. basically the price of home components are very sticky they only go up. with the xception of lumber that will go  up and down through out the year..

The Kwikset Smartkey system is an accident waiting to happen, the stories of them jamming up when you try to reset them are true, it happened to me.