Be wary if rents exceed 1/3 of average incomes.Absorption/Vacancy: Consult National Association of Realtors for market time and inventory insights.

Obviously, this can impact your overall cash flow. 6) it’s important to find an agent that knows the area well and understands how to work with an investor, as the process is very different than buying a primary residence. these are all things to consider, and there is going to be a learning curve associated with the process.

I suspect the sources you are referring to are the same who educate others on associating with more established sponsors to give the perception that more of a track and experience exists.

My condo association is small and we do allow short term rentals so that is not an issue. 

I recommend starting with a certifying association such as InterNACHI, ASHI, NAHI, etc.

To reduce your long-term expenses, investigate several loan alternatives and interest rates.Property taxes, insurance, and possible homeowner association (HOA) dues are among the special costs associated with NYC.

If you want advice on real estate investing and the tax and financial strategies associated with it you should work with a tax strategist with real estate investing and financial planning experience. 

Rental property owners cannot be more than 30 days past due on their homeowners or condominium association fees to obtain, renew or maintain a rental license.

The three times rent as associated with the income.

@michael,  I can reach out to them and see if they have any rental history or p and l statements associated with the business.