Short-term rentals are great when cash flow is strong, but with profit margins shrinking, switching to a long-term rental could add some stability.

In the case of my 16 unit there were no realtors involved.

your on the right track then.. just compare costs and time involved.. then move forward

Plus, no matter what happens Mark is my guy down there and I told him if I ever made a personal comment about his relationship, to tell me to stick it.They always lock the gate at night so no one can drive on to the property and to keep the guard dogs in.Later while my wife and I were driving and checking our storage units, I called Mark to re-iterate we had heard about this and to let her know we will never get involved in their affairs.He said. 

Prioritize your financial stability.

We've never actually had a tenant use it after reading the addendum (which was our goal), and I think it helps prevent problems when they understand the myriad issues involved in its use.  

I am not sure what type of real estate investing you're considering, but it sounds like, with your family and busy job, you won't have a lot of time to be hands-on or personally involved. 

But in their case, the lease was long enough and well-structured enough that the income and stability felt almost like a normal acquisition.In your scenario, the airport authority charging a rent based on a percentage of gross revenue isn’t unheard of, and from what I’ve read in The Economist, these ground lease structures can pop up in different forms.

I have a few questions and points, which I'll ask below, but this is definitely a question for a NYC based real estate attorney who is educated and experienced with both evictions and rent stabilization.

For example when someone wants to have financial freedom and spend more time with family, but then sets a goal by creating a heavy active income stream that involves their personal involvement daily.