That way, you're getting paid without having to interact directly with the tenants, screen them, collect rent, drama, etc.I've worked with some of the population that utilizes group homes.

Live where you want and invest where the numbers make the most sense.The benefit of living in NYC is that you hopefully make a nice salary compared to others in the country.This gives you a competitive advantage when you want to buy properties in other parts of the country.If you are investing in NYC, you are not investing for the cash-flow but the potential appreciation.I used to live in NYC(now I am a digital nomad) and I decided to invest in Florida.

Do most of them include the utilities in the monthly fees?

Over all, a portfolio of DIVERSIFIED (as to residential areas) properties utilizing a buy and hold strategy should provide an adequate risk adjusted return without utilizing any other “opportunistic” strategies to “gig” the ROI.  

Well, do they have a job to pay that extra $200 plus utilities per month?  

For example, temporarily stopping utilities to their unit during a repair or if there will be loud noise or a major renovation on the premises. 

Please provide a forwarding address prior to moving out, and be sure to cancel/transfer any utilities out of your name by the move out date.

@Pretty Khare As Ruben and John mentioned above, you can utilize a cost segregation study on your STR property to reduce taxable income (or create a taxable loss) to offset against your W2 income, but you need to ensure you are following the IRS guidelines very carefully.

However, it does demand solid digital marketing expertise to see positive results.

Utilizing this strategy with FHA or Conventional loan products.Although sometimes the 4 units can be hard to find sometimes you can compromise and find maybe a 2 unit or 3 unit with 4 units.