I currently buy and hold properties in the Buffalo, NY area. 

Hi;I'm planing to buy a rental property in Buffalo, NY.

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Well, I've been learning about long-distance turnkey investing and have been considering areas such as Buffalo, New York and possibly Philly (both due to the proximity to NYC and because I know people there).   

My name is Frank Silla and iv'e lived in Buffalo, NY for the entire 27 years of my life.  

My very first duplex I purchased I've been cash-flowing a net of $1,000/month, however if I were to sell it after the $7,000 I put into for down payment and minor cosmetic improvements, and the fact Buffalo Ny properties appreciate veryy slowly, I'd end up losing money.  

In reality Detroit had cars, Pittsburgh had steel, Buffalo and Rochester had rail and manufacturing and all of these cities saw their collapse.

Anyone investing in Buffalo NY?

I'm in the process of closing on a 5 unit (4 unit 2 bdrm 1 unit 1 bdrm)price is 199Ktotal income 33300 less 5% vac ~31635total exp 14802Taxes are 6890Insurance 1250Electric 600Water 800Mgt 1581Maint 1581Reserve 1250Snow 400Lawn 450Annual payment to mortgage is 10.8KI wanted to get others take on the numbers, i'm doing my due dillegence and background it is in an ok area middle to lower income right outside of buffalo, virtually no crime but incomes are a little lower in this area so i would class it in a B almost C neighborhood.

I have been in the industry of "flipping houses" in Buffalo NY for over 5 years now.