This ensures the landlord is notified any time the policy is changed, canceled, or renewed, making it easier to track without relying on the tenant.The difficult part is enforcement.

You can just answer it without the jazz, and I bet you know a few places right off top of head where people WANT to live, right. 

If your goal is cash flow, then your best bet may be to live in it for 2 years, and then take that tax free gain (250k single person, 500k married) and buy elsewhere. 

If someone is willing to pay you $500k / year, I'd bet that you're a pretty high value / hard working person.

I bet that you can pay off this debt in 1 year or much less.

If we face any headwinds, liquid investments go first so probably crypto but then you bet equities will get pressed.

The loan can be sold on the secondary market at any time, or loan servicer switched or new sub-servicer taking over, insurance dropped, etc.

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.

They can serve the initial notice to vacate but the actual court filing needs to come from you as the owner or through an attorney.Given you're out of state, working with a local eviction attorney is definitely your best bet here.

Give me a fail-safe system over a tenant's assurances any time.