Watch out for market saturation, competition, and ensure you find reliable cash buyers for smooth transactions.

If there is knowlege of what their trade area demographics are you could theoretically use that to hone in on specific markets where there is no MCD's currently, but that would mean overlaying the current competition map as well to find those holes in their overall location strategy.  

Multifamily is a competitive asset class for a reason!

I have done it once and that was for a 1995 mortgage that never got reconvened and our mortgage amount was 25k the bene was a HML who was long out of business and the bene's were fractionalized owners so who knows how to get them.

Add up all the fees on a mutual fund over 30 years and compare them to an IUL and the IUL is a fraction.

Can you work elsewhere and make a similar amount of money but pay a fraction of NYC prices? 

Even though there have been more foreclosures across the country, yet the houysing market in Syracuse is still very competitive. 

Best place to invest is where you currently have a competitive advantage, or where you're willing to put in the work to create a competitive advantage. 

I just look at all the competition in my area.

These loans typically have competitive interest rates and terms, similar to a HELOC.