I've worked as a property manager for a few different rental operations in Manhattan and the Bronx.

I live in Manhattan, but cannot afford to get started here. 

Off market 8 unit brick apartment building in Cleveland built in 1920, Manhattan Beach areaPurchase price - $145000Rehab costs - $30000 (cosmetic consisting of windows/paint/flooring/trim/carpentry)(6) 1-1 units under market, currently at $475/mo, raising to $550/mo after rehab (2) 2-1 units at $600/mo, raising to $625/mo after rehabElectrical, roof, foundation, water heaters, furnaces solidRent Roll $54600Property management 8% $4370Vacancy est 10% $5460Maintenance est 14% $7644Taxes $4200Insurance $1900Water $4000Trash/lawn/snow $1200NOI $25826, or 14.4% ROI at low end $269 NOI per door per monthThese are high ball estimates, the building is older, 1920, but it is solid, just needs a new dress for these solid bones.

This is a fantastic thread and I'm following mostly for my own education but in my experience as residential appraiser in NYC I almost never see owner-occupants putting 20% on property in Manhattan or Brooklyn.

I own a small 4 unit mixed use residential/commercial building in a desirable area of Manhattan.   

All though I did rent 3 apartments in Manhattan and fully furnish them as well as sublet them out on airb&b for 3 years.

I'm trying to figure out how much it would cost to renovate my co-op in Manhattan.

I'm a native brooklynite and Brooklyn was always frowned upon until after 9/11 when people got scared to live in Manhattan.

I live in Manhattan and look forward to sharing ideas.

I was born here, and though my family moved us out to LI, I liked it so much I moved back when I could.I regularly attend meetings for REIANYC (Manhattan, second Wednesday of every month), REALI (Suffolk, third Tuesday of every month), and LI REIA (Suffolk, second Tuesday of every month).