Your best advice would come, for a Tax Advisor NOT a Tax Preparer (CPA).

Licenses are typically required if you plan to work in a professional real estate role, like as an agent or broker.

Instead of jumping into an expensive Long Island market with negative cash flow, consider investing in a Texas market like San Antonio, Houston, or DFW suburbs—these areas offer strong rental demand, lower property taxes than NY, and better cash flow potential.

When you live in that duplex for 2 years and then sell you'll be able to take 50% of the profit tax free (the allocation for the side you lived in). 

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.

However, before you do so you should ensure that your revenue from rental income covers ALL your property expenses in the townhome, including mortgage, taxes, insurance, maintenance/repairs, vacancy, property management, etc...

You also don't have to pay state tax on income. 

We have sold (tax free), kept as long term and/or short term rentals as well.

An annual business tax as a hotel of $50 and collection and remittance of transient occupancy tax of 12% from renters is required of all short-term vacation rental operators.

Networking with the professionals in your market will start to open doors and opportunities to collaborate will arise!