I wouldn't compare the 2 property types using the same metrics - especially given the unique market conditions in New York City at the moment.That being said, I'd recommend the house-hack route in which you specifically target 3-4 unit properties. 2-unit properties are also good targets b/c there is more inventory than 3-4 unit properties & some 2-units have ADUs.Depending on which outer borough(s) you're targeting, we can discuss which specific areas would be the best fit for what you're looking for - Overall you'll find higher cap rates & IRR the further North and  Southeast you go from Manhattan/NYC (i.e.

The other option is that they remain on the hook until a replacement tenant is found.Your situation is unique because they probably have furniture in the unit.

s point of "it depends" is spot on- real estate investing is not a one size fits all approach, the best plan for each person is unique to them.Personally, I'm seeing a lot of investors from California and other similarly high priced areas investing as out of town investors elsewhere.

It’s in an up and coming neighborhood with a unique corner lot that gives tenants yard space and parking unlike the rest of the multi units on the area.Purchase price: 865kPITI: 5200k/MoConservative Market Rents 3/2: $26001/1: $13501/1: $1250The property also has a large parking area that can fit 6 cars that I’m thinking of charging 150/Mo per space.

That being said, sounds like you had one heck of an unlucky stretch.

@Erez FriedlanderThere are some unique tax aspects when it comes to real estate, partnerships and foreign investors(assuming you are non-resident Aliens for US tax purposes).There are FIRPTA concerns when and if the property is sold.There are withholding concerns if the partnership operates at positive income on an annual basis.However, the general mechanics are the same when it comes to partnership tax return deadlines.

Seeing that it is in a very unique place.

Because the tax code is fairly complex, it is important to get professional advice about your unique situation before you claim a new deduction or credit.DeductionsBecause you own an investment property, you can now take advantage of new deductions.

Brokers are by far the most effective way but is anyone doing any unique approaches they would be willing to share?

Besides the obvious income from what I'm sure are typically long term leases, against price, repairs, operating costs, etc, are there some details unique about this space?