It is a bit of a pain to go through the approval process to become an allowed advertisor, so it may not be worth it for a single unit owner.  

I’m seeking advice from any investors who have dealt with the pain of owning a co-op in NYC.

Having it in both FL (my domicile) and CT (property location), created double the work and fees in both states.From what I can tell this isn't the right entity structure anyway, so I can imagine it was a pain with many extra costs! 

Those may help craft a plan for how to minimize the pain. 

Out of curiosity, anyone care to share their biggest pain points, gripes, or frustrations with building financial models?

You can install water meters (not city ones) that can monitor the water usage but the record keeping and calculations can be a pain.

Without opening up a whole other can of worms, it's true that some sponsors charge exorbitant fees and don't bring anything close to that value to the table, but that's another discussion.None of this is to say that sponsors couldn't or shouldn't feel some pain when things go astray. 

Yep it’s a pain in the butt but well worth it.

Overpriced and pain to deal with, especially with a large portfolio of properties.

Lender 2 requires 6 months reserves. they want the borrower to document any large deposits and they want mortgage statements on any investment properties listed on the 1003.The point is different lenders do different things and it's important to not generalize as a broker, but interview the borrower, find their pain points and marry them with a lender that will minimize those pain points for a successful close.