I'm pretty active in the NYC boroughs as a broker, investor, & property manager - happy to give you my $0.02 if you're still looking thanks. 

Then if you are going to rehab, probably need to be back to manage that in some way. 

To provide some context, she initially approached our company to manage her HOA.

Two years ago, it was higher and sellers wanted money hard day 1 in a lot of markets.I would ask brokers and property management companies and attorneys in the marketGood Luck!

Our property manager aims for getting the work-from-homers, traveling nurses, etc vs going after the vacationers and it's doing well to the point of we don't get to use it as much as we would like!

I do sometimes wonder if I may be too naive to invest in real estate because of things like this.You will definitely have to hire a Property Manager because of your inexperience.

Grandiose claims that we initially read on the company website and then had repeated to us by Kirt Bassi, the client relationship manager, over the phone.

See below for the numbers:Home Market Value: ~525kLoan Balance: ~476kEquity: ~50kMortgage Payment: $2570Rent Price: $2650Property Manager: 10% (potentially 7% w/military discount from a referral I got)Cashflow: $-185/month, $-2,220/yr1st year Equity Payoff from tenant: $11,561It's a 4 bed, 3.5 bath home built in 2011 that only requires some new paint to be rent ready.

I am the new manager and the previous manager has allowed her to do this for I believe close to 20 years.I asked her to remove her bike and that the laundry room is not to be used for storage and gave her some reasons. 

Conduct detailed due diligence, manage costs effectively, and be ready for potential challenges posed by high-interest rates and market volatility.