For example, in the New York area, especially in some hyped-up fringe neighborhoods (like certain areas of the Bronx, Queens, or Staten Island), finding a "bargain" seems easy.

Your New York LLC is considered a "foreign" LLC to Pennsylvania.

@Jonathan Greene I'm not sure what you mean by "most will not cash flow as an out-of-country investor" as it might suggest that the cash-flow of a given property has something to do with the nationality or residence of the owner but, in any case, you're absolutely correct that, historically, the net rental yields of LTRs in US cash-flow markets like the Mid-West have been typically higher than in the average European market, although that wouldn't be the case for many other US markets like California or New York.

Quote from @Will Reed: Im not sure how old my pipes are does Jetting only work with newer pipes I have herd ?  

However, I have had colleagues of mine do Section 8 housing in New York and have success with it. 

I live in New York as well, but have chosen to go out of state for my investments. 

California, New York, Texas, Florida, Illinois and followed by Tennessee.  

or even different parts of New York.

I'm a new BP member in New York City & Westchester County.

For my long term rentals I am no longer purchasing in New York State and I am going to be searching out of state in a more landlord friendly state such as Ohio or Pennsylvania.