This requires you to have consistent income because at the end of the day this is a loan you have to pay back.

Additionally, are there micro-markets that may offer less cash flow, but more consistent and dependable tenants, rental payments, etc.?  

I have been to some islands where you need to do this and I was like - no thanks.Have you had a camera go down the drain?

Hi Bigger Pockets,I just bought a three family house in providence rhode island.

I am a real estate agent in Long Island, NY looking to make something happen!

Financed an investor who purchased an old, but rehabbed 148 unit holiday Inn which consisted of 2 separate buildings.  

Suburban markets outside of NYC like Long Island and Westchester continue to see price growth and high demand.That said, NYC's median sale price is about double the national average so speaking with a lender is recommended at this early stage.

This are the numbers:25 unitsAsking price 1.5MI will offer 1M $11,780 monthly rent income$13,000 annual expenseYes, the expense ratio is low but it's because it's in the island where we do not have property tax, insurance is for liability around 2k a year and it's all concrete structures. 

The apartment consists of (23) one-bedroom, one-bath, (3) two-bedroom, one-bath, (1) three-bedroom, one-bath house.

My burning question- What do your operating costs consist of here?