I would recommend looking into Gkhouses property management.Their most popular plan is a flat rate of $109/mo. with a 50% leasing fee and $200 renewal fee.

He's been in the business for 30+ years and at closing he was the most popular guy in the building - everybody knew him. 

.- Condo in decent neighborhood- Schools rated 9 & 10- Popular area for families- Comparable houses in area are 3-4x the cost- Cash flow is close to 0- Price and rent will steadily go up with time. 

.- Condo in decent neighborhood- Schools rated 9 & 10- Popular area for families- Comparable houses in area are 3-4x the cost- Cash flow is close to 0- Price and rent will steadily go up with time.

Contrary to popular belief, this is not set because I believe it will give me a higher return.

A line of credit is a popular choice but there are reasons to that type of a strategy.  

You can jump onto most popular mortgage/bank websites and take a look at the general details very easily.But don't forget, unless you negoiate the seller to pay it, you will also need to pay closing costs, and that's roughly 5% of the purchase price (on top of your downpayment).

Is the area popular with tourists? 

Thank You Hello Charlie,I'm sorry for your loss, my condolences go out to you and your family.LA and NYC are very similar with regards to this... while it is very popular practice for owners to rent by the rooms, it is not legal.Being that the numbers don't work without renting by the room AND you could be subject to fines in the future, selling the property and using the proceeds to purchase a multi-family makes sense.

If you're thinking about Brooklyn, South Brooklyn is a popular option for folks beginning to build a rental portfolio - Canarsie, East Flatbush, Cypress Hills, East NY, etc.