If you are going to tie up your capital on something this small as a TOH park you should require a higher CAP rate of 10-15%.  10% cap puts you at $77k; 15% puts you at 51k. 

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.

The HOA told me they require a sound dampening rating of 67% for upstairs units, and I ended up getting CoreTec ProPlus which has a 57 STC (sound transmission control) rating (I had to call the manufacturer to get that info). 

Then I require an application for any individual that will live in the unit.

And required to apply $25k.3.

All of the instructors I had were great and Mike Brennan the owner and head instructor is super active in the industry on the regulatory side of things.

Recent amendments require a local agency to impose an owner occupancy requirement as a condition of a homeowner receiving a ministerial lot split.

We've seen deals fall out in Reno, NV on 8+ units because DSCR financing required 50%+ down. 

However, life can get complicated, and if you find yourself needing more time to gather your documents and complete your tax return, there's an option available: filing for an extension.Understanding the Extension ProcessTaxpayers who require extra time to file must submit a request for an extension by April 18.

Secondly, the property itself has had a lot of non paying tenants in the past so for me personally, not sure if that local neighborhood is really a winner for me.  1031 exchange requires you to replace the property within a certain period of time and i just cannot find anything in that short window.