STRs work best in tourist-heavy areas with high demand, while LTRs perform well in markets with stable economies and diverse job opportunities.

I am a high performer and run my own territory.

and maybe change the water once or twice per year).I always consider 40% of what sales person say, matches the actual performance.

Although I’ve been investing in real estate, both directly and indirectly for 45+ years, I still get a “queasy” feeling when an investment does not perform as expected.My “aha” moment occurs when we reach the point when, despite the investment problems, we’re able to still show a good/substantial profit at the end of our holding period.  

It isn't impossible but as @Jimmy Lieu mentioned, there is a steep learning curve.Depending on your liquidity, out-of-state buy & hold rentals could be your best bet if NYC investing is out of the picture.

No Specific Performance": Without the remedy of specific performance, you can’t require the seller to clear the title and complete the sale.

Your best bet is to go to real estate networking events near those areas and talk to those who have invested in those areas.Best of luck!

I think what you’re referring to is a checkbook IRA so you can bypass the custodian when performing transactions/investing and all assets/accounts will be held in the name of a special purpose LLC or Trust which is the instrument that gives you checkbook control.  

I would bet the older homes will see a lot more appreciation than the newer homes, percentage wise. 

If you cannot prove income then our rental DSCR loan will be your best bet.