It sounds like I’ll need to be patient based on where the market is.  

I've been doing small deals just a few years ago and all of a sudden I found myself back-to-back-to-back acquiring a 346, then a 534 apartment portfolio and then a 145-room hotel.Crazy how patient and selective investing is rewarded over time.

Maybe my best bet right now is to be patient until I can get my hands on some more capital.

Being patient and figuring out my next move here in the next 6-8 months.

I think units furnished with modern comfort but local personality would do well with film industry people, traveling nurses, families of hospital patients, and possibly medical residents.Also, we're getting an Amazon fulfillment center, so that should be good.

Maybe it's my restaurant background and getting satisfaction from giving good service.

@Jonathan DiMuccioi don't know the NYC market at all but i think house hacking a great way to get started in ANY market, even an expensive one like NYC.my only advice to you is to be patient and look at as many properties as you can stand to look at.talk to a couple different lenders too.

Was the bank able to resolve things completely and to your satisfaction?  

Demand Drivers: corporate HQs - project/business travel, large construction projects, relocation travel - significant population in-migration, military/government, large hospitals - travelling nurses/doctors and overnight patient stays, training hospitals, cancer centers, leisure travel, universities, high occupancy in extended stay hotels, supply constraints, close to transportation corridors, shopping, and entertainment, high cost area (housing, rents, hospitality)

The inventory is tight so you'll need to be patient unless you open up your search to single families.