NYC Mid-Term Rentals

[Stephen Macknik]

I own a duplex (in which I live in one unit) in Brooklyn, and a SFR rental in Arizona. I am interested in purchasing another property in NYC. STR's are illegal in NYC, and I don't understand how positive cash flow is possible for rental investment properties in NYC (given the high cost of properties and rents that do not scale by the same factor), but I'm wondering about MTRs. Do MTRs succeed in NYC, or am I missing a secret to making standard annual rental contracts work in NYC? Thanks for any guidance!