I am a Brooklyn, NYC Investor and Broker.I will tell you that Brooklyn has hundred of thousands of Millennials living all over the City with several concentrated enclaves.I just approved a Lease for a 2 bedroom, clean but not renovated 1 bath apt for $1,900 in East Bed-Stuy.

In fact, with their new construction homes, which they are concentrating on now, your fortunate if you see any cash flow at all when allowing for soft cost reserves. 

Only concentrating on very specific areas of the city that are desirable for renters and supply constrained.

A personal home is a life style choice not a investment.Due to the fact that a personal home is more expensive to own and maintain renting while saving to invest is a smarter option for those wishing to concentrate on investing.

Until now, I only do buy and hold, but I want to quit my job here in Argentina at the end of the year, go back to Germany, work only a few hours as employee and concentrate on real estate.

Also, take into account the amended rules AB 2299 and SB 1069, and explore the opportunities they could provide you in the neighborhoods you are concentrating on.  

I would concentrate on some simple criteria to weed out properties.  

For me, I will not buy more out of state and concentrate my time and efforts buying more in Colorado.  

I am concentrating on West Michigan area.

Degree Real Estate Development with Multifamily Concentration (Kennesaw State University)M.S.