I want to be able to pull money as needed for other projects and put it back without having to undergo underwriting every time I need capital like I would with HM.

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! 

If it is some kind of big deal like it is an old metal barn eyesore on a downtown city block undergoing revitalization and you're going to build a $10mil apartment building on it, if you can get the land...hey hey maybe the powers that be might negotiate something with you, with perhaps a promise you won't fight value for 10 years or something like that. 

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

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

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

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

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