I plan on house hacking in the near few years too, and funny enough, I was looking at duplexes in Old Brooklyn area for when I do it.

If you're in the larger NYC area (Jersey City, Manhattan, Brooklyn, Queens, etc.), I'd love to connect with you!

Does anyone have an idea of how much hot water would average for a 3 bedroom (3 tenant) apartment in Brooklyn, NY?

My girlfriend and I, recently acquired a four family building in Brooklyn and I have another deal with a foreclosure pending.

I am looking at a multi family (3 unit) deal in East Flatbush, Brooklyn NY - Based on my research with brokers, I believe i can get the property to an NOI of 35k. 1- Based on this, is it safe to assume that I can get a buyer at to buy this at $35,000/.06 =$583,000?

@Tiffany Campbell Hello there, I read your welcome post, I too am a transplanted New Yorker, grew up upstate(Schenectady), went to school in Philly, moved to brooklyn in 2011 and moved back to Philly last year.

Here in Brooklyn, one of the hottest markets in the country, in order to see a dramatic increase in a property's value in that short a period of time, you need to buy in the next wave areas before they become next waves, and then you need to gut renovate to be able to cash out on the property.

How does an economic downturn like 07-08 affect rents in Old Brooklyn/Parma, or whichever part of Cleveland you are most familiar with (same in below questions)?

:Thanks @David Thompson I'm going to read your article now.Thanks @David Faulkner, I'll start searching for the 2.5k in a bit.SteveFor a local perspective similar to mine on how and why you should stay put to make your REI profits, you should chat with @Llewelyn A. who is nearby you in Brooklyn I believe. 

Ilive in Queens NY, I'd like to stay here or Brooklyn.