Current portfolio is 13 homes, ~70% of which are income producing rentals. The others are slated for sale. New properties are in pipeline. Seeking accredited investors. Investors will be LPs in the fund. Great returns...

That being said, house-hacking in Queens, Brooklyn, the Bronx, and Long Island has worked out very well for folks with FHA loans.

:)So, a little about me:I'm a Long Islander, born and raised.

Long-term, buy & hold is a great strategy - I've always been a firm believer that you have the upper hand with these properties in the investment field because you have the advantage of being first in an area then being able to wait for appreciation for whenever you want to sell "when the time is right".Often times, these rental properties also don't involve the full scale upgrades (less money out-right) that you would need in a traditional fix-&-flip in order to hit projected ARV's.The one draw-back here is out-sourcing your rentals to a property management company - which finding the right one for the right price can take some time to vet - or else managing the property yourself, in which case you will need to start building relationships with contractors to ensure proper repairs are being done and the needs of your tenants are being met.You can do buy & holds out of state easily, too, just find the right market that is land-lord friendly (for example, mid-west: Indiana), and I think its fair to say you could do well long-term with the right properties!

Yes but they have left island.

Anyone recommend how I could stay most up to date with air bnb polices in New York, more so queens and Long Island areas.

If you don't mind I would love to reach out as I want to make sure I have a better understanding of that market from a renters perspective for him as he is still 19 and doesn't full appreciate what it really takes to live somewhere on your own let alone an island out in the middle of ocean with no support group in the immediate area!  

I am looking to raise capital for my fund that invests in SFH home sales and rentals on Long Island.

Hello Afoma, I understand your situation as I recently moved from Mass to Rhode Island and purchased a two family. 

I am from Long Island and want to be able to do it here, if possible.