Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

If you pay down $100K in loan saving you $1K in monthly costs against rental income, or you invest that $100K in something that generates $1K in net income the result is similar.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

The city also benefits from a relatively low cost of living compared to other major cities, attracting both renters and investors.

Evicting them, even after purchase, could be a lengthy and costly legal process.

Double the cost of that house and double the rate to 7% and its like $4,000 per month for the EXACT SAME HOME. 

I know that i could buy my next multi family property as a primary residence close by move in, rent half live in the other and than rent where i am now which would cash flow upwards of 1k monthly, or i could buy another multi as strictly an investment property out of state which would be a lot cheaper (taxes and cost of property) and a lot more landlord friendly laws than New York, i guess i’m just undecided on which route i want to take and I’m trying to weigh the pros and cons of each scenario.

If I were to guess, I would think that the new administration will bring positive change to the housing sector by removing regulations that impede builders, and affect building material costs. 

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

You magically get the seller to cover every single closing cost (A $12k gift, or a trick to get you to buy their problem.).