It goes deeper than that.NYC Liberal policies, including strong tenant protections, increases the risk of failure so much that the risk far outweighs the rewards.Financial ruin is just around the corner for the small Mom and Pop Property Investor that it doesn't make sense for them.The Tenants will have free Attorneys that are bent on delaying eviction cases so long that it stretches into years while Mom and Pop suffer from lack of rental income and still have to pay all the bills and do the management.Additionally, the increase in homeless living rough in the streets due to Sanctuary laws causing a lack of shelter beds, then evicting shelter residents after 30 days creating more homelessness, policies that tie up the Police's ability to arrest perpetrators, etc. only causes Mom and Pop to sell out at large discounts to larger Landlords who are capable to use Economies of Scale to eek out a profit.These larger Landlords will eventually turn a much higher profit as the pendulum will eventually swing towards the middle when the NYC Voting population eventually realizes that it's not a conspiracy of the Rich that's causing the Wealth Gap to increase.It's the same liberal laws that encourage people to become lifelong tenants, small Entrepreneurs (including Property Owners and small Mom and Pop Businesses) to be destroyed, and Rents to rise astronomically as housing becomes scarer even when the population declines by as much as 7% in the last several years. 

I could have easily had double the portfolio I now own, and while I'm not complaining by any stretch of the imagination as RE has been very very good to me, it slowed my progress down significantly when interest rates were excellent and I should have been more willing to use leverage.

With the median time to contract stretching from 21 to 32 days, it’s about playing the long game.

With the median time to contract stretching 92% to 48 days, focus on quality listings, realistic pricing, and a polished look to make your property stand out.Smart Moves for Today’s MarketFor buyers, the expanded inventory means more choices.

In that stretch of ocher and asphalt there are multimillion-dollar mansions and also some of the city’s most affordable rental apartments.

But why do you want to buy multiple homes in the same year if that would be stretching your resources and subjecting you to more cap ex?

In my experience, you can consistently generate outsized returns once you can gauge which syndications are stretching to show a high projected return.  

If you were very aggressive and good with brr, you might be able to get 3 in year one, but that's a stretch with the amount you have saved. 

Not worth the potential issues down the stretch.

It is not at all uncommon for 1 of my 3 properties to be late as the tenants are trying to stretch their checks to meet the end of the month.