I will not, however, buy where I see bars on windows, lots of chain link fence and graffiti, etc.Based on my research of CS, it sounds like you generally want to avoid the southeast area of town (roughly, south of Constitution and east of Union).

The top of the economic food chain is comprised of educated individuals.  

If that's the goal of being in the chain, have at it.

Additionally, this would draw the credit agencies into issues of ownership through faulty endorsement chains and seems to lack any attention to the Assignment of Mortgage or lien.

I wouldn't put them on the mortgage, like others have suggested, it can trigger taxable events etc.I personally would want to keep control of the situation by having complete ownership and then just have my kid be responsible for being a property manager as his way to live in the house.Be clear that there are different hats (as Dave Ramsey says), when your kid is over for Thanksgiving meal, you have your papa hat on. 

I have built 4 chain link fences for increased rent.

I wanted to search for "financial freedom," as Kiyosaki calls it, than to be forever chained to a desk job I hated for a salary.

I lump all of my non-capital expenses into one of 3 categories, mostly for tax purposes - mileage, materials, meals.

One thing that could slow down your renovation is ordering materials from Home Depot or Lowes and waiting for it to come, and even then, the order may be incorrect.As an example, there are a chain of stores in the midwest called Menards that stock a huge selection of building materials.  

If you don't currently operate a nyc STR, dont start now.I have no proof, but I'd suspect the Airbnb rules got passed after extensive lobbying from the NYC developers, hotel chains, and commercial property owners.