The first thing I want to point out is that it may be wise, in your thinking, to separate the property itself from the STR business that's being run from the property.In the old days (as recent as 10 years ago), people buy a vacation home to enjoy, and they leave it empty when not in use. 

I am looking to buy a 2 or 3-unit home in NYC.

Some had clearly heard about buying a laundromat on YouTube and just wanted someone to listen to their brilliant plan to buy five laundromats in the next year.

Investment Info:Small multi-family (2-4 units) buy & hold investment. 3 unit apartment complex What made you interested in investing in this type of deal?

You are missing my point on taxes.Scenario 1:  Your partner buys the house at the same time you put your cash in.  

Start saving up and buy your first place.

Which do you think will be more competitive, buying from wholesalers or your own referrals?

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

There will be many situations where you can help a homeowner save their home -  however, in other situations they just want to sell quickly which provides a wholesale, fix/flip, buy/hold opportunity for you. 

I would prefer something I can buy once - software subscriptions are a nuisance.Something that automatically downloads transactions from my online banking portal and that can be used to easily categorize expenses for financial statements would be excellent.Thanks,KevinHi, Kevin.