ALSO they have regs on rooming houses only allowed in specific zoning, similar zoning as for hotels;  only on main streets in business districts AND you have to apply for licensing and blabla as for a hotel..That said;  there is a small movement supporting rent by the room as a small step toward solving affordable housing. 

Think through each aspect of a potential transaction, and how you will respond to the inevitable hiccups, problems, frustrations, and disappointments that occur in every start up business. 5.

Earlier this year, we were also posted on Booking.com, and while the listing did produce several reservations, it came with a huge amount of frustration and more last-minute cancellations that we've experienced (significantly more as a %) than the other 2 booking platforms, Airbnb and VRBO.

If you can afford it I would look north towards Tompkins and Schuyler counties instead.

What exactly would make a city board approve non-affordable (i.e. not Section 8)  apartments?

It offers affordable housing, solid rental demand, and generally favorable landlord laws.

From there, it's normal DTI/Credit/Cash assessment for the new loan to determine whether you can afford the loan. 

I doubt as a society we will ever solve the affordable housing problem our country faces, but there are certainly measures that can be taken to make housing more affordable.

That adds a lot of expense if you can even do it.All this I guess depends on how much risk you want to take or not take or can afford to take.

Can you afford to sit on three vacancies and the cost of renovation?