However, with limited cash available, you’d need to ensure the return justifies the upfront expense.

Given your residency limits, the high prices in NYC and surrounding areas are a challenge, but there are still options in neighborhoods further out within your allowed range, like parts of Queens, Brooklyn, and the Bronx.

Other sources have certain loss limitations.2.

A strong buyers market indicates sellers price cutting and listings being bought under value which would lead to equity losses. 

Im more a hands on learning definitely and as far as living in a unit i couldn't yet because its out of the kids school district  plus the limited space. but thats the goal, to buy a small air or inn to manage and run for work while still renting in our district and then looking to buy since we're renters again!

Small entrepreneurs should not diversify their limited resource if they want to grow.  

Demand for February/March move-ins should see a notable uptick sometime in January, but you'll for sure see your strongest rental demand in late spring/summer.Your most recent post mentioned that you were going to look for someone for a 6-month lease - I think this is a great way to approach it to minimize vacancy loss while biding your time until we get into the higher demand summer months.Getting creative with your lease term and credits/concessions could also be a good way to solve a few potential problems in one shot. 

Low prices enable more people to buy, limiting demand for rental properties so rents decline (in inflation-adjusted dollars).Population Growth: In areas with growing populations, demand outpaces supply, driving up property prices.

In case you have not noticed, our national debt is already out of control, and there're legal limits on additional borrowing.The government has a third option: print more money.

It would be a big red flag to me if they are doing a lot of volume in this market. https://www.biggerpockets.com/member-blogs/10145/83067-limited-partner-s-guide-to-investing-in-the-right-deal