They are still a segment of housing after all.Go back 40 years and the quality of the homes was terrible. 

The best way to protect yourself investing in NYC is to buy higher quality assets and require exceptional credit credentials from your applicants to obtain approval to rent.

But you definitely need to do your own research, times change and some of the things he suggested that were valid 4 years ago may no longer be valid today.Spend some quality time on your research first, I would recommend to give yourself a month to spend 4 to 8 hours a day just gathering as much information you can, networking, making connections before you are ready to go.

although off line I have had others tell me that the notes he was pitching were very high risk low quality and he was just liquidating his positions and those that end up with the paper had poor investments.. ??

Buying a quality property (location and condition) is by far a safer choice.

Are their listings detailed with good-quality photos?

Find a good, quality, reliable handyman to help with repairs.Don't get into rental properties unless you want to get your hands dirty....

- Following that, purchase good quality furniture and decor.

The last few properties we have put on the market went under contract in under a week with multiple offers but they were priced right, were inline with the area but were done with quality and were in desirable areas.Unless you are dealing in a low-end market, a home warranty should be a standard inclusion especially for first time home buyers. 

Your rental agreement with a detailer is going to depend on the experience, quality and track record of the detailer.