Hi All, I live in NY and I am looking to buy in a hot market.

For flipping you have to be in a viable market that produces such opportunity. 

My top reasons are:- Current income- Hope of price appreciation- Vacation home to go to- Store of value/hedge against inflationOne other reason for me that I am not sure is captured in the original list is that STRs is what my market gave me.

This is exactly why I've been staying away from markets like LA and focusing on midwest markets. 

While secondary market loan servicers do not really intervine when a problem poped up, we did, to the extent of paying off any loan or obligation or restructuring it.

high rise condos appeal to a very limited market of buyers.

Full service STR PM market is 25%.  

@Nelson Sbravatti in my opinion, Jackson County is a better investment market.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I have an off-market opportunity and want to jump on it!