There are lots of hidden charges that get tacked on in addition to what you see on price-line, kayak, or the rental website itself. 

You have to make the bet that you might do well, break even, or have a big loss.If a buyer has limited funds and net worth they do not need to get sucked in by the potential of high cash flow and landing nice tenants that pay on time and take care of the place with low income type properties.Think of this.Someone buys a piece of junk and hopes the building doesn't fall apart and the tenant pays on time so they can cash flow 200 to 300 a month based on current market rents for that product type.So 2,400 to 3,600 a year if everything goes perfectly with no surprises.

Our combined annual income is ~200KWe have investors presentations lined up, but I wanted to go in with a property and what our plans are.But I've been looking for the past two months and can't seem to find anything on LI/NYC, that seems reasonably priced.

Am I just looking at the wrong product?

@Brandi Jones When I read your subject/title the line from Jay Z "allow me to reintroduce myself" played in my head.

In the process of doing this BRRRR I had to deal with a broken water supply line at 6 am, a roofing contractor that didn't do a good job and left my roof leaking in various spots, and a call from my new tenants saying that the house was flooding because apparently, as we found out later, the plumber didn't weld the copper supply lines to the shower valve correctly and water was coming out from the wall.

If it's residential it's over 27.5 years straight line depreciation. 

We should connect.I understand about the taxes but the bottom line is if it cashflows to your requirements, then the property tax doesn't matter.

Not $2,700 worth of difficult for sure and I could do it in 2 days max including assembly of the cabinets.Had a bid for $800 to tear down the top 2/3 of the brick facade; took us 1 1/2 hours with a hammer drill.Bottom line, hiring contractors would probably eat away about $20k in profit if I hired them vs DIY. 

He is also very pushy on the 14 days, which has me concerned because that is a short amount of time to get HM lined up.