Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

@Madison SloanTo start house hacking, focus on saving for your down payment, researching target markets like Salt Lake City or North Idaho, and building a strong team of professionals, including an agent and lender.

Especially about validating information. 

However, the MLS in San Diego as well as the appraisers I've worked with do.You'll definitely want to check to see how the topic is addressed in the particular locale the property is in. 

Works well for motivated sellers or properties with no mortgage.4.

The information contained in this post is not to be relied upon.

@Jonathan Blanco, I'm and investor and a licensed mortgage broker so I've been on both sides of this conversation.I would look for a lender that (1) listens to you and understands your strategy and needs (hint: it's not always money), (2) has experience working with clients executing your strategy and brings more to the table than just cash - be it advice, relationships, deal-team partners, etc., (3) gives you viable options and explains the pros and cons of each option and (4) you enjoy interacting with - this should be a relationship, not a transaction.Once you find a few lenders like this (and you should have relationships with more than one), then you can start comparing rates and fees.

This is not a team sport.

I also thought of paying a neighbor kid but that sounds like a stressful situation to rely on neighbors I don't really know well.  

Well then could we have a example of defeasance, maybe such as a Bob and Ted story?