The New York forum might be a reasonable place to start.

Additionally, should I consider tax implications, given New York’s reputation for high taxes?

They're not talking about rent control in the same sense as New York City where it's illegal to raise rent by more than X%. 

There was an article published in the WSJ on January 25th 2001, yes a long time ago, and this was the first paragraph "NEW YORK -- Realtors, already battling Internet companies that have entered the home-selling business, are now organizing to fight a joint proposal of the Federal Reserve and U.S.

The one place that still imo offers a good combo of being nice, being affordable and having a little upside left imo is the eastern shore of Md, I just bought a flip down there (though it’s pretty hard if not impossible to find great value add even there) but it’s affordable, growing (a lot of people coming from dc, New York, Philly area.) but still not really a big enough market that any major operators are out there yet. 

I haven't looked too closely at the Poconos so that's all great info and I'm sure New York has similar issues.I was hoping to be closer to home since I'm just starting out, but I'll look into those markets as well!

I'm considering looking into Pennsylvania or upstate New York instead and would appreciate any advice.

Thank you for checking this out… I hope this information is helpful to you or someone you know in the New York market.If you are interested in 2-4 unit properties in Queens, Brooklyn, the Bronx, Westchester or Long Island, this will give you a sense of what is happening in the NYC metro area.How ‘hot’ is the market?

Thank you for checking this out… I hope this information is helpful to you or someone you know in the New York market.If you are interested in 2-4 unit properties in Queens, Brooklyn, the Bronx, Westchester or Long Island, this will give you a sense of what is happening in the NYC metro area.

For context and without going into the details of my situation, they recommended setting up a revocable trust and then setting up a Wyoming LLC as a holding company, then setting up a New York LLC owned by the Wyoming LLC holding company to hold the property for the asset protection and anonymity.However like I said I am getting conflicting information/advice.