Welcome to BP Community; a great place to enhance and share your REI knowledge.

But I can say from experience that in NYC it is tremendously challenging and expensive (for the landlord) as legislation was passed at the state level in New York a few years ago, and then enhanced even further in the city specifically.1) 60% (or 51%?

If they want more than that, they you way want to walk away.You do want to look for two things, either cash flow (will the property rent for more than PITI + expenses including maintenence)or you want to get a bunch of equityor both equity and cash flowYou can make money in any of the above casesMAO only applies if you need to do repairs to rent it   Most of the property that you will look at subject-to is lived in my the owner or was recently lived in.

These are not always readily available, but when they become available they could turn out to be terrific buys.I've always focused on value add and opportunistic investments in commercial, but having developed an interest in MF recently I've started to uncover more and more MF value add properties in the markets we're focused on for acquisitions.Buying them requires more hands on commitment other than simply management, but the value enhancement can be significant. 

You would to have opted for an enhanced policy to cover this. 

OTHER MYTHS I NEED DEBUNKING:- I'm willing to screen and find my own tenants, but I don't want to deal with the calls of something being broken.

I’ve talked myself out of a couple good opportunities by listening to my emotions too much, and not trusting my the numbers even when they met my criteria.

My main interests are for low cost insulators for non-residential applications, but if I can integrate micro rebar or other enhancements and achieve a code compliant (by PSI compression test) formula, then it's a matter of finding a PE to sign off on a floor, foundation or wall application.

One myth - which is just a way of justification in general - is that people always need a place to live.

It just wasn’t my thing.