The last thing on this planet I would want is to live by the tenants!

@Charlene McNamara"I imagine though you're actually paying more than $390/ Mo"Valid point, no rental on the planet has expenses that low long term.

I’m sure you’ll agree that you live in one of the most expense real estate markets on the planet, but outside the city there will always be those blue collar communities that are home to mainly service professional types.

Added some 'character' to the wood floor, but oh well if a rental.I hit the thinner tar adhesive from hell with  citri strip, a non-toxic stripper.

I found the more we grow in both age & knowledge, the clearer & more apparent the toxicity is visible.

. - good post, as you mention NYC is a bit complicated, if your interested in the Airbnb impact, Planet Money did a podcast fairly recently on the impact in New Orleans, while it mostly focused on the operators, they did have some data on the impact to property values as well:https://podcasts.apple.com/us/podcast/planet-money/id290783428?

I personally feel like saying this.If you collect rent, pay the mortgage, taxes, insurance, set aside some for vacancies(even if there's high demand), CapEx(even if it's brand new), repairs(even if you have the best tenants on the planet), property management, (even if you're managing it yourself right now.

AS many of you know I am not the most tech literate guy on the planet..

Buying in declining areas, even if they cash flow, will become toxic if you have to reinvest back into the properties.

@Cynthia DeLuca The property management company (Excalibur Homes) that manages my portfolio uses Planet Synergy for its virtual assistance services, automated end-to-end management of transactions, owner portals, etc. as they manage over 1,600 rentals for investors like us.