Does the value of the product decreases as the lease term shortens? 

This is a 15% decline, not a 1/3rd decline. 

I did some googling and came across a product that is relatively inexpensive compared to the quotes I was getting.

Originally posted by @Kevin Burke:Any recommendation for a new investor looking to invest in multi family homes A lot depends on what size property your talking about but regardless market and product knowledge is key then learning financing and raising capital if you need it.

This is a rough neighborhood and I've also had several PM's decline my invitation to manage several properties we have in the area for that specific reason.

So they win on both sides: they pay less today because 1) the price is much lower and 2) they get financing.Mind you this isn’t going to work for you because it’ll take as while before I can bring that product to market.

So far Bigger Pockets has been an amazing resource and the podcasts have made my commute a much more productive use of time. 

Hard decline at this point in my mind, and Ms.

I have been looking into rates for a refinance on my Ohio Duplex for about 6 months (pre-pandemic) and I have been consistently finding rates that are over 1% higher on the exact same product (2 unit, cash out) as my CA mortgage broker.   

I am a mortgage banker and have been talking to a lot of my real estate agent relationships and there is major talk of a big decline in NYC real estate values.