I was a little nervous because I didn't know what to expect as far as bookings since there was not one other 4 BR home being rented in the market (that I could find).We luckily realized that the floor plan/layout of the house would allow us to configure it into 2 lock-off 2 BR/1 BA apartments as well as one complete 4 BR/2 BA house so we felt better about being able to compete with the other STRs in the market.To our surprise (and delight) it turns our the house has been rented most often as the 4 BR/2 BA configuration over the smaller apartments.

NYC market has become so expensive that it’s getting difficult to compete against all cash investor.

The bottom line, is that there is no one gauge or tool and you must do your own research and "comps", using as many tools and techniques as possible, to get the most accurate actionable data. unless you have a trustworthy competent realtor/broker on your team, that is already doing that for you.I am not realtor or broker.

Our focus is/was a 2-3 multi family home that we plan to house hack for 1 year. ..We placed multiple offers either at ask price or above ask price and even removed some contingency’s to make our offer more attractive...Problem: We often have to compete with multiple offers that have 20 percent down, and the seller believes that we cannot close which is far from the truth. ..Are there any solutions or tips for this issue?..

Some of the drawbacks is that the really good deals are usually scooped up from the bigger players in town who have already done ample research into the properties or going against NY buyers who have the capital to overbid properties and price you out.

I don't have any property yet so can't say for certain, but I know @Andrew Fidler is a local player in property management and also an  investor.

If your asking 3-5 I would say that’s a fair percentage and you are giving them an opportunity to bid/compete for the job.

If you dig a bit under the surface, you are likely to find either a mouse, moron, or con-man, or maybe all three, as most of the honest and competent have moved on out of frustration.

A competent mortgage broker would be able to analyze your equity + situation to help you determine a safe route to go.

There is a lot of big players in the multifamily space that have put up massive amounts of units over the last few years.