I'd honestly like both and it's been difficult to determine which I should focus on.

So, they make honest mistakes that can still cost you thousands of dollars.- If you try to hire contractor directly, you have about a 90%+ chance of getting taken advantage of.

Honestly, why would anyone do that when the median house price of NYC is almost 1 million.

My biggest frustration isn't with the deal failure itself, it's more with the operating performance of the GP and honestly I'm not sure how an LP can really determine this.

It helps being willing to talk to sellers/get on the phone and talk to folks in the real estate space in general but the most important thing in my opinion is being an honest and true person.

Always curious how others strategize around that.Great question, I make sure that I can hold on during those tough times and don't take on too much that I can't chew.I always try to have a longterm vision and think of the property in a 10-20+ year viewpoint.

Honestly, I've given up on finding cashflow anywhere close to the city due to rates and prices, BUT some other opportunities you may want to consider are:Live in flip - mentioned earlier in this thread, always a solid option in any market.Condo conversions - good money to be made from this and since they're a little trickier than a traditional flip there tends to be more inventory available that would allow for a profit.ADUs - come February 2nd, ADUs are allowed BY RIGHT on any SF property in the state, owner occupied or not.

The C rentals still cash flow better, but the difference is marginal and honestly not worth the extra headache. 90% of my gains have been through appreciation and forcing equity through value add.

It's better to be honest with your current lender and all parties involved in the transaction, than to risk losing your EMD and falling out with lender Bs false promises.

.: It doesn't sound all that bad to be honest Property manager fees sound similar - for reference mine is 1st months rent plus 10% of gross income per month.