Has anyone here had any success with this strategy in NYC?

Would you sell or are there some strategies we may be able to utilize for better results?  

As long as you develop your Core 4 like David Green’s mentioned in his long-distance investing strategy (realtor, contractor, property manager, and lender), you should be able to invest anywhere with confidence.

There are several strategies you might be interested in. 

But if you do, you can mitigate the risk to almost nothing and everyone wins. 

We rent that out, its a great strategy, keeps our mortgage payment down.

@Matthew Alonso what strategy are you using?

I agree with you that for townhouses, the strategy is appreciation and not solely STR revenue. 

. ;)I should add that this is only one "strategy" we're considering, and we're only considering it because we do desire to personally live off-grid way out in the country someday.

This is strategy many use to keep re-using their dollars, particularly as properties appreciate or are stabilized in larger MF.