I wasn't sure what to expect, as I'm new to BP, but I'm pleasantly surprised by the support and timely feedback.

This could work as a 50 / 50 where he finds and sells the property at the end and you handle the renovation.Ensure your partnership agreement spells out exactly what each persons responsibilities are, and what happens in the event something goes not as expected.

You can get better return comparing with the stock market (10-15% is reasonable expectation) and with lower risk.

@Christopher Phillips I wasn't actually planning on connecting two parties (I thought that was considered wholesaling and would expect a lot more for getting it under contract ;) I was thinking about doing more of what Elizabeth said.

How long do you expect to live here?

Expect many rejected offers for apartment complexes too.

A lot of it will also depend on what type of capex I expect coming up.

I can somewhat agree, especially with the fed expecting to raise rates 3 more times this year.Many BP'ers here are in the business of real estate for the cash-flow(which may be difficult in NYC). 

Buy without any preconceived expectations and operate your business as it evolves.

We expereinced an anomaly of “temporary” demand from the flood of August 2016 that delayed the expected declines and softening of the rental market.