This also probably ensures that they will continue to depreciate against the US dollar over time. 

Is this a hidden opportunity or a deal-breaker?

I always like recommending creating a short, mid and long term goal to help guide you.

This experience can help you scale your portfolio over the next few years- Local properties appreciate faster, which allows investors to reinvest their equity into more local multifamily units OR other markets where the cost per unit is lower (i.e., Philly, Upstate NY, etc.)The Bronx is arguably the best borough to consider the househack strategy.

I want to start building our portfolio and would love some experienced help with direction.Over the past ten years, it seems like I've had numerous deals/ideas that just didn't come to fruition and I'm just feeling a bit defeated. 

@Saurabh Kukreja you can find a sheet someone's created & shared using this thing called, "Google".

Congratulations on getting this deal going.

I recommend you discuss and plan this in depth with a local lender who knows your market well. 

In all seriousness, if this is the start of a budding STR business for you, your parents should understand. 

From this side of things, what interests you?