That's a tough one.

You’re right—New York can be tough with high property prices and tenant laws, but there are some great areas just outside the city where you can still pull off a successful BRRRR. 

I guess the reason why my wife is very hesitant on cutting losses is because between our friend and us, we have spent $92,000 out of pocket on this deal and I guess it’s a tough pill to swallow

With prices high and interest rates also relatively high, getting a property to cash flow (at a 1.2 DSCR) at 75% LTV is really tough in most places.

Best of luck to everyone out there dealing with the slow market, it’s tough!

Buy one investment to prove the concept.

It’s tough to be in a position of uncertainty, but getting informed and organized will help you navigate this situation.

My question is - how do I prove in the time log that I performed a particular activity?   

Once you have that agent they will be in your corner the whole time, they will have connection to professionals in trades, they will have the experience to guide you through tough decisions and be your second set of eyes on every thing.   

Out of state and institutionally funded can be tough to close at times.