This deal doesn't meet the 2% or 50% rule of thumb, but it has positive cash flow and is in a growing market, according to the latest 2024 Top 100 data from BP. 

So you are able to get the cash flow, tax deductions, etc.

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

Those holding cost will certainly add up over time and kill any cash flow.

Bottom line: There may be large monthly cash flows, but they won’t be going into your pocket :(Positive InteractionsTo be fair, James Wachob and his team are pleasant to work with.

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

The 4-plex would produce around $1000/mo cash flow after financing, and that financing would recover your total build cost leaving you with no money in the deal at the end and an "infinite return" for CoC.

Hey Romeo, I would build up some cash flow and try to find some partners in your network that have the funds to get started in RE but are hesitant since they never purchased anything yet.

As an invetsment-friendly agent (based out of Houston, TX), I’ve seen how the right professional will help you analyze cash flow, manage comforatble contractor bids, and even drive for dollars if you want a broader look at potential comps or deals in the neighborhood.

Trust and reputation builds and deals just flow from that...