Depending on your level of leverage, you should be cashflow neutral after taxes.Oh, and the only harlem neighborhood with a better GRM than yorkville is central harlem and is about .5 less.

You can find deals in safe neighborhoods like this but you have to sift through the properties on the market to find them.

Actually the more I think about it the neighbor could be a real problem for a retail buyer.You have a new construction bungalow that just went on the market for 275k just down the street (more “inside” the neighborhood and not on the fringe).

A little background- 7 years ago when I was 18 my boyfriend and I got our first apartment in the neighborhood he grew up in.

IMHO, you need to get on a plane and go have a look at the property and the neighborhood in person.

My neighbors who own homes love that I am beautifying the neighborhood and picking great tenants.

TO me, it seems someone that isnt local would only be able to provide basic help and would not be as in tune to the pros and cons of the neighborhood, local incentives, people to talk to and work w/ etc.

However, the rental is in a low income neighborhood and I don't know how it will play out over time.I don't want to owe money on that house.

I currently live in an 8-plex (2/1 units for $625) in a C+ neighborhood.

(Leasing for August 2013 started in January.)I would suggest to ask students where the "nice" neighborhoods/streets are to live off campus and target research there.