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You would spend far more on Marketing, background checks, tenant placement, repairs, and possibly legal fees with the eviction process.  

Hey @Joel Oh, so let's clarify the NYC rules around STRs.STRs are legal in NYC as long as these directions are followed."

Expecting big cash flow in multifamily apartments right now is kind of a fool's errand because if you find it it's probably in an area that won't be kind for out of state ppl with a third party property manager. 

I'm with a third-party Property Management all over Houston managing a little over 300 Single-family or Small Multi-unit rentals!!

He has no legal rights to the property or the deposit because it belongs to the legal occupants of the rental.

Vacancies hurt all parties involved!

I've seen other people in the forum who simply use independent savings accounts but it is not clear to me if that is legal.

The hardest part is getting their little paws to hold a pen.......

Finding tenants to pay your bills is the hard part. I