You bring up a good point about HOA reserves as it is a "top of the list" concern and should be researched carefully.

It may be necessary to modify your renovation budget in light of local market prices.In conclusion, house hacking in NYC requires careful consideration and research.

As always consult your tax professional, and not just Bigger Pockets.  

Nobody cares about your plans Good luck  

Be careful back feeding with a generator.

Bonus depreciation/Cost Seg studies are typically most beneficial for owners of STRs and Real Estate Professionals, outside of those ownerships you do get some benefits but it is often not worth the value in the Study and take a long time to realize. 

As a Cap Rate is indicative of the risk involved in owning the property, you want to focus on doing things that make your investment less risky if a bank ever had to take over.You can make your investment less risky by doing some of the following things:- Convert all month-to-month tenants to annual leases- Implement strict minimum rental criteria- Add security cameras- Make large capital and preventative improvements (fix drainage issues, install water pressure regulators, replace old HVACs...you get the picture)- Essentially, prove with action that you are caring for the property on a long-term basisThe only way this is effective is if you document everything you are doing as well.

Agent should do most of the searching but not all, as you may have interest on something that does not fully match the criteria you gave your agent.hope this helps understand how “professional” agents work!

From what I know about Westchester County in NY, it's quite expensive.I think you need to determine whether you care more about strategy or location because it sounds like you're trying to fit a square peg in a round hole.

This community is filled with experienced investors, industry professionals, and enthusiasts who are always willing to share their knowledge and support.