Hi BiggerPockets Community,I’m looking for advice on breaking even or generating positive cash flow with my studio condo in Prospect Heights, NYC.

Hi Saul, it depends on what you're looking for - cash flow or appreciation?

Make sure you check the local ordinances / zoning and talk to the local administrator to see if you can do what you are planning.

This journey that we're all on can be lonely, especially when it comes to balancing W2 jobs, kiddos and real estate investing. 

Can the new HB 182 law be used to eject the prior owners of a property that the bank foreclosed on and did not remove from the house after the foreclose?

There are two types of return from a rental propertyCash Flow & Appreciation.I normally also aim for a minimum of 8% return between Cash-Flow and Appreciation.Appreication, nationally, is around 2% to 3% annually.Therefore, your goal is to get the cash-flow to be about 5% to 6%.The issue is interest rates being very high, you would therefore, need to buy at a pricepoint where the numbers still make sense.You can always put down more of a downpayment to cash flow, but that will impact your cash on cash return calculations.Best of luck!

Could any of you guide me on what I should do initially to secure financing?

If the tenant asks you what's going on, tell them they can move out or talk to your attorney.

One thing you don't want to do is to buy based on proforma and have a negative cash flow property, especially on your first deal.

Hope your next steps are much more smooth and you can take those lessons and turn them in to gold.