investment

Although condos allow rentals, most do not allow short term rentals (less than one year). They do not want AirBNB situations in their buildings. In addition to purchase price, you will also need to pay property taxes and common charges, which can be high if you don't find a property with a tax abatement. Keep that in mind. This is probably not a money-saving situation for you.

Not all condos have a one year minimum requirement for renting. It could be a very good investment. Be glad to help you look.
Ellen Silvermam
Licensed Real Estate Broker since 1987
Licensed Mortgage Broker since 1990
esfundingco@aol.com

Also, don't forget NYC short-term rental laws (frequently violated, but you could still get caught and fined).
http://ny.curbed.com/2013/3/25/10260752/an-introduction-to-new-yorks-short-term-rental-laws

Many condo boards also require paperwork on the prospective renters and must give approval. If you find a condo that would allow 30-day rentals (30+ days is NYC law), I would be surprised. But I am not a RE professional, just someone who has lived in several condos, so I can only speak from my own experience.

begue, There are coop hotels, who will rent out for you when you are not there. For example Lombardy hotel has some apartments for sale. Maintenance is very high due to daily maid service etc.

http://streeteasy.com/building/the-lombardy

try 210 east 47...very flexible rental policy - condo building

Thank you, yes, I did see a few that actually handled the rentals...

http://streeteasy.com/building/150-west-51-street-new_york/2002 this was the one that got us thinking about it. I just didn't like the no pets policy.

Do you have enough for an all-cash purchase?