Hi BiggerPockets Community,I’m looking for advice on breaking even or generating positive cash flow with my studio condo in Prospect Heights, NYC.

Hi Max, I can speak about the Columbus Ohio market (as this is the market I specialize in) but yes, there is strong competition here and there are obviously some cash buyers and they will always have a slight advantage.

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement. 

Used funds to pay other debt off plus out cash in the side.  

Looking to net 4 figures a month in cash flow with this unit - the goal is to close 7 more by the end of the year - let's see how it goes. 

Let's use that as an example. 20% down is $43,000 plus lender loan origination fees, closing costs etc is going to push you over $50,000 cash out of pocket.

Very hard to find multi-family properties that cash flow in this A market. 

Offer Cash/30 day close 2.

- If so, 1031 into something bigger and easier to manage and then when you pass, the inheritor receives your property(s) at a stepped up basis - subject to Inheritance Tax limits.Otherwise, sell one every 1-5 years when you need the cash, so you can plan expenses to offset capital gains.

Paid off real estate cash flows extremely well.