Even if your city is on board, I'm sure the neighbors won't be thrilled with this operation opening up in their neighborhood.

Dual City Investments has done multiple Section 721 exchanges and accepts 721 properties as capital contributions into their fund (Dual City Advantage Fund).

This is a major reasons bay area investors look in the midwest in faster growing cities. 

I'm entirely STR focused as an agent as well, and work with pretty much exclusively STR investors, so I have my finger to the pulse of the regulatory environment here in a county, city, and even neighborhood basis.

You’re right—New York can be tough with high property prices and tenant laws, but there are some great areas just outside the city where you can still pull off a successful BRRRR. 

This helps give you a 30,000 over view of what a potential city/zip/street is like https://www.areavibes.com/It gives you a total livability score and this is the criteria I have come up with over time.80 and above A+78/79 A76/77 A-74/75 B+72/73 B70/71 B-68/69 C+66/67 C64/65 C-60/63 D59 and below FCheers from Fort Worth, TX 

The housing explosion of the late 90s/early 2000s saw expansion to the outer portions of the city and 4-plexes were not a part of that expansion.

I'm Derwin from New York, and I'm passionate about real estate investing for quite some time.

I started by going through the posts here using the search function and then trying to connect with the realtors and investors and whole salers and lenders specific to the city I am interested in!!

If you are outside of the city limits you work with Fannin County and the process is pretty painless.