That may sound speculative, but in some degree all forms of investing are.

Using the MLS to find this deal and securing it with a conventional 30-year loan shows a straightforward yet effective approach to real estate investment.

Sure, sounds great.

Rent stabilization and tenant-friendly legislation may have an effect on your capacity to raise rental income.Tenant-Friendly rules: New York City's tenant-friendly rules, which apply to Manhattan as well, can make it difficult for landlords to handle several areas of property management.

Sounds like you have your head in straight, Cody!  

Through depreciation, other income taxes are offset, through debt paydown and appreciation, he's going to gain $thousands per year in equity.Subjectively, it may appear not to be a deal, but if the buyer understands these factors and wants the property, an entry fee under $10K sounds like a deal. 

I think it is a normal business decision to decide to utilize the remaining time to rent (hence being less than 31 days and perhaps less than 7 day stays and how his options are more open coming into a full calendar year.I am curious though how changing from 7 days or less this year is effected by going 31+ days next year.

Sounds like a business problem in the area that needs to be solved and could be worthwhile. 

This sale price reflects the property's enhanced value due to the thoughtful and well-executed improvements.Profit Calculation:Sale Price: $205,000Less Purchase Price: $70,000Less Renovation Costs: $38,000Less Holding Costs: $5,000Total Profit: $92,000 (before any additional transaction fees or taxes)This project underscores the effectiveness of strategic property selection, focused renovations, and market positioning.

I've had one deal like this but backed out after I found the kitchen roof had caved in.Tax auctions sound great on paper but you really need to know what you are doing.