Its up to you the investor to realize this before you invest in these kind of vehicles. 

In some cases, the scammer may also charge exorbitant fees or interest rates, making it nearly impossible for the victim to repay the loan and keep their asset.16. 

Most properties are remotely managed by owners/PMs and what was suggested would be an impossible and unrealistic standard to set - much less enforce. 

It's certainly not impossible, but it's probably going to take you more time and more deals to win one.Like you, this was my goal when I first started out. 

It is definitely not "passive", but it is still a great investment vehicle.   

Investment properties prove to be more challenging, but not impossible when titled in your own name.  

Quote from @Joshua Piche: Your market is tough, but it's not impossible.

Well I purchased the power flipper program during my research as a newbie getting into real estate and I will tell you that while there are some informative modules on there, the program is set up to limit you in the way you find and submit deals, thereby making it virtually impossible to make any money back. 1.

As you know its near impossible to find a good cash flowing deal in CA due to sale price, taxes and lack of inventory.Last one I closed on was over off of Germantown Road it was a great 2 unit that needed a little TLC for $160K but passed an inspection and was livable.

It isn't impossible but as @Jimmy Lieu mentioned, there is a steep learning curve.Depending on your liquidity, out-of-state buy & hold rentals could be your best bet if NYC investing is out of the picture.