Purchase price: $3,200,000 Cash invested: $3,000,000 Sale price: $12,200,000 PROJECT CASE STUDY Alphabet City, Manhattan, NYNew Condominium DevelopmentCompletion: 2016Sq.

Generally the more median rental amounts $600-$1000 tend to not waiver much with market shifts because the lower income households cant afford anything more and can't get a loan as easily to buy a home.

I also hesitate to alter the dynamic of a young couples household by adding a third person to it because it has a potential major effect on a relationship.

its very tempting with all of the inventory on market there but population has been declining and average income per household is sub 30k.

See: https://dqydj.com/household-in...

Just and idea and not sure if this is possible or worth the effort:Let's say I own a duplex, two one bedroom units. Let's also say that in my market, if one of my units was a condo, it would sell for roughly the balan...

The authors categorize housing prices at a median {household income} multiple of 5.1 or greater as Severely Unaffordable.  

It also depends upon your setup, whether you are renting out just a bedroom or a full separate unit with a given number of bedrooms, since different areas of the island attract different household types/sizes, though there is good general rental demand across the board and across the island.Scott Price

We are focusing on house hacking so that we can jump start our investments and live for/close to free, but duplexes are hard to come by in our area and my partner does not want to share household amenities.

Fannie Mae will allow an individual up to 10 financed properties (for households comprised of a married couple: 10 for her and 10 for him, if each spouse qualifies individually).