I'm a hard worker and fast learner but for some reason this real estate thing has me beat.

I work a full time job , so time can be tough but I know that not being able to do dynamic pricing based on slow months is really hurting us. 

It sounds like a tough situation, especially with the city violations and unresponsive contractor.

I hired a contractor who left his workers unsupervised, they painted the whole house but did a terrible job because the paint didn’t stick.

That's a tough one.

You’re right—New York can be tough with high property prices and tenant laws, but there are some great areas just outside the city where you can still pull off a successful BRRRR. 

You need to reach out to the local housing committees they will put you on their database and feed your information to their case workers. 

In general medical professionals are looking for smaller units (studio/1 bedrooms) not 2+ bedrooms- In order to understand corporate demand you should research the types of corporations in the market and figure out if they bring traveling / temporary workers to the area because not all corporations do- You didn't mention colleges but if there's higher education nearby this can also be a driver of MTR demand.

I guess the reason why my wife is very hesitant on cutting losses is because between our friend and us, we have spent $92,000 out of pocket on this deal and I guess it’s a tough pill to swallow

With prices high and interest rates also relatively high, getting a property to cash flow (at a 1.2 DSCR) at 75% LTV is really tough in most places.