Did you do the market research?

You asked about the risks and benefits of using leverage in real estate investing.The reality is leverage cannot be avoided, usually, in real estate investing.The risks are you get over-leveraged and your don't have enough cashflow and reserves to weather a market shift, extended vacancy, or major repair.The advantage is you increase your ROI by using other people's money and as little of your own money as possible.

Any website where I can do myself?

This market is forcing a lot of investors back to fundamentals.

Go to Etsy and search for "rental property tracker," and you will find hundreds of nice spreadsheets to track 10-20 rentals, usually for under $10.Software has extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

There are some that will post on the Bigger Pockets market place but you'll find tons of them on Facebook.  

waiting and saving capital to purchase when the markets better?  

FYI August is a slow time for the NYC market.

I haven't explored the market yet for that product.  

Each market has its own unique laws and regulations.