Yet at the same time in North Brooklyn, a townhouse purchased in Park Slope for $8000 would have steadily risen in value to be worth $2-3 million today, rented for very positive cash flow on a continual basis, and income from such would have been more than sufficient for upkeep, improvement and cash to owner.

I use an AIA form.I was consider a premium contractor in certain areas of Brooklyn and Manhattan for many years.

Brooklyn renter here.... 

hey guys from i'm  brooklyn so here goesif i only have $1000 bucks i'ld buy me 5000 business cards. then i go to the biggest shopping center there is and buy me a pair of comfortable shoes or sneakers. while doing this i would be giving out my cards. with my new sneakers on i would knock on as many foreclosed distressed properties i could get to . walking the neighborhood that you want to invest in is the most effective way to find leads. leads equal money. you will find a deal then wholesale that deal.. and repeat

Now I will probably invest closer to home - probably in Brooklyn (Bushwick - an upcoming Williamsburg) where the prices are high and rental income is null, but I'll play the appreciation game and at the very least I can get my hands dirty screening tenants and doing maintenance work and know for a fact what I will be receiving.    

Im from Brooklyn and i remember when i used to be scared to drive through parts of Bed-Stuy and Brownsville at night, the same neighborhoods which are now home to multi million dollar townhouses.

My wife and I are in contract to buy a triplex in the Bushwick neighborhood of Brooklyn. 

It's hard to believe that a 2 bedroom in Brooklyn or queens (forget Manhattan) could get any more expensive than what it is.

I've seen a few in Brooklyn Md and Dundalk.

Look at Brooklyn NY, I have a buddy who rents out half a duplex townhouse for $6,600 a month.