It takes patience, planning, knowing your numbers to the T and MONEYYY to withstand the bumps, bruises, surprises and shadiness.

It is surprising how different markets can be. 

Then I do further analysis on the 3 top selling zip codes to determine the most popular ARV in the area, then get a list of actives with a price cap of 30% less than that (and 90 days solds to use as comps for all of those properties).As I analyze each of those properties for an individual ARV, I am always pleasantly surprised to see how many of those are 15 to 25% off market and how many of them are motivated sellers, short sales, HUD's, etc.It is absolutely possible.

But, its surprising to me that there aren't a lot of rentals available online for the Chinatown area beyond a couple of newer apartment buildings that are not targeted towards Asian renters. 

What were your projections when you went in....and what were the surprises?  

My suggestion is just to pick up the phone, make that first call, and you'll be surprised at how it all pans out.

However, and surprisingly, the HOA lawyer is demanding a steep $1,650 in so called "HOA lawyer fees" in addition to $1200 HOA dues.For past properties, I have worked directly with the HOA to negotiate a final HOA amount and paid it off.

I never used those words on the streets of NYC, but where you have approachable friendly folks, you'd be surprised who talks to you.

Surprise Attorney, LOL.Due diligence pays off!

So it's not really a surprise or at least it shouldn't be.