Since it is likely that this will get worse before it gets better, we are encouraging our Borrowers to increase their strategic reserves by creating a 1-2 month debt service reserve.

Given that the population in the MSA isn't rising, you will either buy an asset that just tracks with inflation, or you would have to be more strategic with your investment, as you won't see the rising tide that growing markets could have.

Hello BiggerPockets Community,TL;DR: Looking to house hack up to 4 units in NJ/NY using FHA loan + 203(k) rehab, can handle 3.5% down payment + closing costs on my own (+/- $100k-$150k)I’m a new investor in my early 30s looking to dive into the real estate market with a strategic approach.

To not waste time or your money...identify correct rental rate quickly and adjust when needed, maximize exposure, prequal anyone you show property to, eliminate unqualified prospects efficiently, gather feedback and make strategic repairs/upgrades, screen prospects effectively.What quality of property is this and in what quality area (demographics, income, level etc)?  

Any deals you find that don't fit your BRRRR initial strategic focus you partner with someone experienced on. 

If you decided to pull the rip cord on work, you may want to look into converting your tax deferred retirement plan into tax free retirement plan via strategic Roth IRA conversions.

Strategic foreclosures ran rampant in 2008.

We're all very excited about moving forward (giving ourselves 1 year to learn/save/strategize/niche down before pulling the trigger).  

The issue is strategized people have a strong hold on Long Island.

If you strategize efficiently you will be on a winning side.