I have seen that project and I am a little fearful that it is going to cause price competition and from there it is going to be a race to the bottom for who gives the best deal per night and that hurts every owner.

.), but NYC is a tough market to operate especially when tenants become trouble.. would say standard eviction timeline is currently around 18 months, it's a nightmare when it happens that's why we are very well set up and we make sure to have a good relationship with tenants, (we can talk about NYC a different time,) bottom line it is a market with practically no vacancies, and crazy good rents, but very challenging to operate.All being said, I am looking to evolve into different markets, problem is I have no idea how evaluate a market and what I need to consider and how to even do market research on anything outside of NYC.. so, I would appreciate for some input on how to find deals, understand and underwrite different markets. 

Thanks to the Cost Segregation Study, the property investors accelerated the depreciation that the first year depreciation was approximately $1,629,844.Through the cost segregation study, they were able to reclassify approximately $2M to a 5 year useful life, $2.35M to a 15 year useful life.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.

Plug it all into BNBCalc and share it so others can give you feedback- look at the tax savings via the "short-term loophole" at the bottom and learn how that functions as well as it can be a huge aspect of your investment.

Bottom line would have me cash flow $800-$1000 after all said and done.2.

Also, you might want to take a piece off in order to bring with you to the store or even find the item # at the bottom. 

Bottom line: you have to know your state's landlord/tenancy laws. 

So bottom line... is this a fairly secure investment to test the waters for me into this space?

203K Loans can be helpful but can take much away from the bottom line as there are many fees, similar to those of a hard money loan, that are incorporated into the loan on the back end for inspections, draws, follow up, etc, often times +/- $10k-$15k, depending on the size of the loan/rehab budget. 

But the charts at the bottom of the analysis dont reflect this.