If not is the area attractive to quality tenants that will pay market rents?

I also know that the lower prices to be found in NY have a lot to do with there being older buildings, higher property taxes, tougher neighborhoods, less appreciation, etc. which I know I will need to incorporate into deal analysis accordingly and understand the risk of.Summary: I feel that with having to put 20% down (FHA loan house-hacking is pretty much out of the question in NYC due to the astronomical prices here), buying a property in New York may be more attainable with my current savings and would allow me easier access to visit the property, however I don't think I could afford the quality of property I would like (close-ish to turnkey) in Florida.

Thanks for the quality post!

There are really very few of quality on market.

It came with an audio cd and the manual was written with 3rd grade spelling and grammar.

For single family I agree that adding bedrooms and then renting by the room or using as a VRBO would be the move, but as James pointed out those would be at odds with each other due to location and quality of property (short term renters will be a lot pickier than some college students, as you'd expect).

Plumbing, drywall, flooring, (we actually hired an electrician), finding high quality discounted appliances, a plug for countertops etc.

I have used "rental arbitrage" to improve my brother's quality of life and to let him live a real life "house hack" scenario.

@Antonio Daniels 1-there are no different standards for screening...what you will find is that they will likely not meet your earning requirements (like 3x rent)...so you have to make exceptions...they also have very colorful backgrounds for the most part...after screening hundreds of section 8 tenants, definite patterns will appear...if you have a credit score requirement, odds are they will not meet there either (but there are fantastic voucher tenants out there as well...I've rented to nurses and other professionals with a voucher do to having a disabled child that needs a lot of services)...the one thing to be aware of is not treating them differently because they have voucher...2-The inspection depends on local authority, but the standards are the same...this is a federal program...so Housing Quality Standards (HQS) is the guiding document...how an inspector interprets that is another story...https://www.hud.gov/sites/dfil...3-Usually you will only have recertification annually, or possibly at an income change or a request or complaint...4-100%, it's one of the best sources of long-term steady income out there...I'll take a section 8 tenant over a white collar A-class tenant any day...plus you are helping to house the most vulnerable and underserved population out there.The bad things you hear about section 8 are from folks that do not understand the system and how it works, or want to be slumlords and not take care of their properties...or are ill prepared to deal with people in general.

I'm just not a very audio person.