If you’re not in the area often then yes, long term rentals may provide more stability for you.Either way, I do recommend that you buy based on reasonable long-term rent #s, not AirBNB #s, since you may not be able to do AirBNB if you’re not actively living in the property.As far as $2500-$3000 per month, if you mean gross rents then yes I think that’s do-able if you have decent-sized and -condition units and especially if you have 3 units with at least 2 beds per unit.Management fees are usually a percentage of collected rents, which is probably also true in NYC. 10% is “common” but some property managers may charge more or less depending on what services they offer, how many units they’d be managing for you (think quantity discount) and what you can negotiate.

Nick Myerhoff - agentConventus - LenderOpus Bank - refiI started a Bay Area Apartment Mastermind Group to answer some of the commonly asked questions + like minded folkshttps://www.facebook.com/groups/learningapartments

Airbnb conveniently and commonly tells guests to take the fees and nightly rates up with the hosts and that the hosts has the money and to repay them directly.

Could be a copy/paste error from the last promissory note if he's using the same template? 

While my husband and I were looking for houses to purchase last year, most of the issues were common with the fixer/turnkey homes that were older. 

I'm not advocating throwing people out during this situation, and think that regulation goes to the lowest common denominator. 

Depending on the loan product, you may be able to get non-recourse debt, which isn't common or seen on the residential side.Best of luck moving forward! 

There is new hope since the FDA just approved the off-label use of some very common drugs that have shown great promise in treating Covid-19.

Even if your tenant loses their job, the stimulus will ensure they get most - if not all - of their income back through unemployment and stimulus checks.Although late rent will be much more common, there's no reason why tenants shouldn't be able to pay their rent eventually and catch back up.

Last question on this, besides RE taxes, any other common expenses this applies to?