I spend every summer in either New York or San Diego, and almost exclusively rent a property for 60-90 days through one of these two platforms.  

More desirable areas will have lower cap rates, as Eric mentioned, but the long-term #s might make sense for your strategy.That said, one bad New York tenant could result in a year (or more) of recouping losses i.e. damages & lost rent.I started investing in NY before going OOS for deals...

Is any wholesaling or flipping mobile homes in the New York Tri-State area?

Purchase price: $55,000 Sale price: $70,000 Contributors: Peter Vekselman Partner Driven joined forces with Nathan Patterson to flip this New York property with zero renovation needed.

Deals though are few and far between.How are you helping people in Dallas from New York? 

New York is very tenant-friendly, which can be frustrating, especially when it comes to evictions or delays.

I have been with Home365 for about 2 years now for two single-family rentals in York, PA.

and, chasing "cash flow" can have negative consequences:https://www.biggerpockets.com/forums/48/topics/1242392-rough...https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/432/topics/1231840-sell...https://www.biggerpockets.com/forums/311/topics/840134-memph...https://www.biggerpockets.com/forums/963/topics/1195280-expe...I know New York is a tough market, but can you pick a place within an hour or two of you, if where you live is too expensive? 

Make sure she has a professional elderly rights advocate before you even think about signing any legal agreements, especially in New York, especially in regards to her giving a neighbor $1M. 

Are you in New York?