Steve,It is true PE and investment groups have been gobbling up the market over the last 10 years- so much of the 'great all TOH parks' are more and more difficult to find. 

Hi everyone,I bought my first studio condo in Astoria, NYC, last December.

I want to remain local in NJ or at most drive down 1hr to PA (self-manage or, last resort, hire a PM)However, I must also consider maintaining reserves, a safety net for my primary home, and an emergency fund.It's just hard for a new investor now :(

But my experience over the last 10 years of building new homes is that NOTHING comes down might stay the same but will rise almost annually Like Cement always goes up in Jan. 

You seem to already have US based accounts, so you are good there too.The last item here is the definition of "good".  

Definitely going to consider everything including your last point about 0% interest credit to actually execute the flip and get materials/labor.

I fired them last year.I just opened my mail to find a notice from a COLLECTION AGENCY stating I owed them money.

i would speak to your cpa, as you may be able to get all or most of the gains tax free if they lives in it two of the last 5 years. vs what you can get if you rent it outof course consult with your cpa for tax advise

In the last 5 years, we've invested over $300k of savings toward down payments and rehabs. 

Lastly, check any shared doors or gaps and add door sweeps or weatherstripping to block sound from traveling between the units.