For example you are putting in low grade laminate and all other listings are putting in high grade vinyl.

Other properties in that area of similar size and vintage in good condition have sold in the low $200s and rent in the $1600-$1800 range.  

Sad that NY isn't taking advantage of expensive hotels to get most of the US traffick to stay on US side and just do a day visit to Canada side and come back.I don't know why small towns change their STR rules and make restrictions.

That would be a great avenue to explore since you are in an expensive market.

House hacking is a financial no-brainer, it eliminates you single biggest monthly expense, so you can increase your savings rate.

Eric,Without going into too much detail on each line item, at first I use my back of the napkin method with a 40-50% expense ratio.

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry. 

Finally the pro formas that they provide are absurdly basic and neglect at least 25% expenses, so are essentially useless. 

Private money may be cheaper, but may be more expensive if they are doing something that most hard money lenders wont do. 

One of our MTRs is in an area with extremely low supply that we've had a waiting list for it one summer.