Need Advice-23 years old looking to buy to rent out in Poughkeepsie, NY

[Mills Shenkman]

Hi all!

I have been thinking about buying a property in Poughkeepsie, NY for some time now. Ideally, I would like to buy a home, and then rent it out to a family or students. Vassar, Marist, and the Culinary are all in Poughkeepsie, so I am hoping in the right area, there would be students/faculty/etc who would like to rent. I think I need to stay under 150K. Wondering who has experience with something like this, and if it was profitable. I know that I could get more each month in rent than the monthly payments for myself would be, but curious if anyone has experience that it cost more/less than expected, and if they were able to pocket some of the rent. I also need to stay in a nicer area of Poughkeepsie to avoid section 8 renters (at the advice of realtors in the area) and be in a location desirable for renters. Anyone buy and then rent out that could offer insight? I want to start looking at some more properties knowing the cost and income potential. Rather broad question but any experience helps! I am also a real estate agent in the city, so I think that could help in the transactions.

Thanks!