I was also told that the basement apartment could only have 1 person in it (1 person unrelated to the owners living upstairs). 

My best advise is that unless you’re in the BUSINESS of real estate, in other words if you’re just a part time investor, then skip the direct mail, email blasts, SEM, etc. and go to the people who have already obtained the lead - and negotiate a good deal.  

As long as you can weather a few of those over the years, the rewards of "tenant friendly" policies for landlords can be incredible.Contrasted to a place like Houston or Austin Texas, where fewer tenant protections are in place, and you get a booming flow of new inventory.

Many NY apartment buildings with 6+ units built before 1974 are rent stabilized.You can look up the building here to see if it is on the rent regulated building list.All the best to you on your search!

If actively through general partnership in larger apartments - Think of what value you want to fill.

Student rentals are great because you rarely have to worry about vacancy, and you'll get a range of students willing to pay a premium to live in the nicest house off campus vs some students who just want a cheap apartment with their friends.

Since the valuation of an apartment is based on NOI, this is critically important. 

Hi Ola, glad to have you as a part of this awesome community!

Don't think so apart from calling multiple companies and seeing who has the earliest availability.

I am learning more and more about section 8 and wonder if it would be a good strategy to convert the project to that as I checked the zip code and what you get for 1 and 2 bedroom apartments is much more than what we are getting at the moment.