With regard to paying people to stand around, my thinking is to start with a part time employee with the intent of within a moderate amount of time ramping it up to a full time employee and perhaps 1-2 additional part time employees.

Full cash buys are different.)

Oh and yep - the more landlords treat tenants badly, the more tenants will fight for more restrictive legislation.

My place is rehabbed and full of wonderful tenants so do not run from this IF its a deal!

Like I said, it's our side hustle (we both have full time professional jobs and a houseful of kids), but we do the management ourselves. 

I am currently renting out three of the rooms which covers the full mortgage and I live in the 4th room (So house hacking).

@Troy Williams  All of my contractors and subs that I deal with are new construction or full gut rehab guys.

Full disclosure I am not going to be a local investor in NYC but I have been preparing to get into an OOS market for multi-family investing.

We can and have done everything from full service rental management, to just lawn/snow and maintenance to even rehab management.

If you start the eviction process and he/she cures the default by paying in full before the eviction is finalized they are still liable for you being out the money to start the process.I hope this helps and good luck.