NYC has a few things going against it now, in addition to the fact that the numbers on rentals haven't made sense for years:1) New rent protections and a desire for more.2) Plenty of new inventory in Queens & greater NYC (I live in Long Island City, so we are at the center of it)3) Later stage in the economic cycle.

LLC membership interest (and economic interest) in NC is treated as personal property, so members can (if the Operating Agreement supports it) sell their interest and the LLC will continue on.

Does this make sense economically?

So filing a lis pendis seems like a logical and economical course of action. 

In order to leverage your funds with the first deal a lot of people look for owner occupied properties because you can get into them for 3.5% down which is very economical and save some money living there and not paying rent.

There is definitely a lot of competition for good deals.There is also still a lot of opportunity due to population and economic growth.You need to stay informed on developments that will make certain neighborhoods more desirable for people to live in.

Leased in 30 days, some commercial properties take years to lease, and some are never going to be leased for enough to cover expenses, they are economically obsolete.

These major metros are lower risk because that demand is higher, because what happens to both the values and rents where there is high demand, they will rise much more than where demand is lower.People who say appreciation is speculation, simply lack a fundamental education in finance, investing and economics. 

@Barry Wong, Your cash flow on that is way too thin to make a refi an economically feasible. 

However you need to make sure you also understand how to maintain the entity if you're going to go that route.2) Look at the numbers on the market - employment growth, population growth, rent growth, economic diversity - things like that.