Now as a real estate investor you inject yourself into this housing system of supply and demand as being  provider of housing for a price of course. 

When several of our multi's were originally purchased & had lower rents, we had a woman from a random social services group, (had the ID badge # etc) ask a LOT of questions about the properties.

My uncle has worked in the court systems and in general as a psychologist with sex offenders and people with sexually deviant behaviors most of his career (30+ years). 

We’ve moved on to small multi-family properties.

Focusing more on the multi-family practical system for US markets. 

Just want to understand that if you have a long term rental property, would’nt you buy new (cheaper) appliances and get a multi year (say 5yr) cover?

We’re working on getting our first property, our plan is to buy a multi family.

Its doubtful they will be willing to pay the increased rent (they obviously like the size and price as is).If you are splitting the electrical service, its very, very likely the entire electrical system will need to be brought up to current code. 

., a better long-term approach may be to sell the properties and roll the proceeds into a small multi-family, 10-15 units.

Full disclosure I am not going to be a local investor in NYC but I have been preparing to get into an OOS market for multi-family investing.