ROI: The returns are not stellar, but they are steady.  

SALT deductions are capped at 10k now, which in the NYC area is easily hit by even moderate income folks (relative to the area, would be considered high income most other places in the U.S.).

That's the key; well maintained airbnb make for a positive return visit. 

You may want to keep that in mind, thus some of the responses are going to be geared toward that end (i.e. the best return on your investment). 

@Shmuel Waldman The big issue I see is your cash on cash return being less than 10%.

If they are professional, they can explain this quickly and easily.

If you are soliciting people that you did not know before then they need to have a worth of 250k to be an accredited investor .I've talked to flippers who basically pay a return on money to people who go into a deal with an annualized rate and then maybe some basis points.

You do not want the cheapest tax returns in town.

Deferred maintenance is often a simple/cheap (relatively) fix, but neglect can be the cause of major systems failures or issues, which can destroy your returns, so be sure to have a very thorough inspection.

In one county, the information was easily accessible online, but in the county next door, you would have to go to the county clerk recorder and request the information.