This is exactly why I posed this question, I keep finding instances where condos could prove to be an attractive first step into the STR world. 

Tesla could be leaving its longtime Silicon Valley home for Austin, Texas, a city that has attracted a flood of tech companies and remote workers over the last year and a half.

Cap rates remain attractive in many of the outer boroughs while rates (temporarily) remain low - so there has really never been a better time "spread" wise.If you are looking for yield in the short run, NYC may not be for you.

If the DSR is low, they may only lend 50% or less.There are hard money lenders that will lend short-term on 5+ units that aren't producing enough income to meet DSR requirement.

Newer investors are attracted to the cashflow, but they can come with their own set of challenges.  

Except insomuch as you're part of the electorate that produced the government that produced such a terrible, despicable law.There's a tragic new element to the California vs.

I'm now trying to stay focused buying rentals as this is what attracted me to real estate investing in the first place.

@Steven Harris that is a hard sell but with $30K in savings as collateral you may be able to go to a private lender; however, you are going to have to add a member to your LLC or Corp with a job ; especially since you are new and can not produce a schedule of real estate owned.Most private lenders that I know or have worked with say that the asset is the main pull as far as credit during analyzing the deal; therefor, you have to have a strong deal that makes you money and able to communicate how you are going effectively monetize the project, in the form of an executive summary.I remember at one time some lenders were doing 80/100, 80%LTV and 100% rehab, I do not know if they are still doing that, I will have to reach out to some of them to see their parameters these days.

@Ben HaackeTownhome is more attractive to renters than apartment style, but you also have a bigger roof and basement to manage.

Depends on your situation which would work out best.On the selling side, again you have two main options, list for $1M with a listing commission % (of whatever you choose) and still offer selling agent commission as standard for your area, or option 2, list with no list commission and lower your price by the commission amount it would have been to attract more buyers at a "lower list price".I have done both and it was all situation dependent.