However, NYC has a ton of wealthy people and the result is really poor investment return rates.Cap rates in NYC are disappointing.

@Ethan McManigle, it would be best to focus on increasing your savings rate before worrying about investments and where to park your capital.

Then interest rates went up...Long story short, it was foreclosed in the beginning of June this year resulting in a total loss to investors like myself. 

This is despite the higher turnover rate (creating more expenses) and adding 30 units to our portfolio.Increased customer service - The office and phone are maned 9a – 5p, M – F to give our tenants the ability to text, email, call, or walk-in. 2.

Rates are scaring people off again.

I had MF and saw what I thought was the peak with rising interest and cap rates.  

What is the rate of return (cash on cash) if you complete the rehab and rent it?  

The cap rates appear attractive at first glance, though a thorough analysis of the local markets is essential, especially the long-term vacancy rates.

And the positive reports, ratings and accolades keep rolling in, i.e.: best places to retire, best places for families, etc. 

I would start there to make sure you can STR the place.It doesn't make any sense to rent a single room at a single room rate when there is a whole, empty house involved.