Something has to get better in that market as the regulations are too confining and essentially up to interpretation by the city explore you engage with.

I exited the market due to the short term rental regulations - properties that are rented under 90 days are considered short term.

I am not familiar with NY regulations, but investigate whether you can charge each tenant ~$80/mo for the gas (do the math).

Had strict timeline for delivery, they failed that too.

With countless loan options, complex terms, and strict lending criteria, it’s easy to feel overwhelmed.

Another huge thing to consider is laws and regulations, many times new investors will jump at Hudson county thinking the proximity to NYC is great for renting (which it is) but many of the municipalities in Hudson county have very strict landlord laws. 

Hopefully this helps....You need an attorney that specializes in SEC regulations to create your PPM. 

Personally, after working with numerous property managers in Las Vegas, I only trust two to handle this task for my properties.Compliance Is ComplicatedProperty management involves navigating a maze of city, state, and federal regulations.

With an SDIRA, you can invest in long-term rentals while preserving your retirement savings, but you must follow strict IRS rules:1.

In my area, they actually require a little more than the local municipality and lately have been especially strict on cracked paint because they were recently sued and lost.