NYC and the Bronx and Queens and Brooklyn are generally impossible wholesale areas anyway, but if you add in that you are an out-of-town student alleging to buy people's houses, NYers will eat you alive.

To qualify for debt, lenders generally look at net worth (aim for the loan amount), liquidity (10% post-close), experience, and a solid credit score (ideally 680+).

Their living conditions are unsanitary and could invite rodents, bugs, or just unhealthy living conditions in general.

MTRs are great, and there is a lot of opportunity with the different medical facilities in the area, as well as the influx of military and the gaining popularity of MTRs among the general public, not just traveling nurses.

I'm looking to add some resources to my list, agents that have done flips and vetted general contractors that have references!

In general, it is tough to find landlords that will take Section 8 (at least at the level of house I provide, B/B+) and so you'll get plenty of interest. 

Hi All - I know that in general it is a good idea to avoid HOAs for STR/MTR rentals.

Quote from @Jon Martin: Quote from @JD Martin:  I've got a long enough history with LTRs to know that generally you don't want tenants doing more or less anything because it's amazing how little common sense a lot of people have, and this translates into not asking guests to do chores because 1) they've paid a cleaning fee, 2) it's a vacation even if it's a home, and 3) guests that do chores might just put dirty towels back on shelves and dirty dishes back in cabinets. 

However, the rate of agents who drop out is probably VERY high EVERYWHERE in general.

And they wouldn't do it for us as owner occupants because our revenue comes from selling houses (hell - we're a general contractor - thats how we make our money) which was strange but its their rules.