@KT Fissore I would work out a deal with you in TX and do it for 5%

Question is what to do.

If you buy in a prime location with desirable amenities, you’re setting yourself up for steady income and long-term growth.

Why do you want to buy 2 rentals a year?

It's just not that hard of a job to do with a system in place and frankly it's too expensive in our opinion.

In a situation where you were doing an arbitrage (renting it from the owner, then yourself re-renting it to someone else) your costs to renovate/fix it up while you're using it would be able to be capitalized and depreciated by you once your rental was in service (available for rent to others). 

It’s great that you’re looking to connect with local investors—it’s always helpful to learn from others’ experiences as you get started.As someone new to investing, one thing to consider is not limiting yourself to your immediate area.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

I got about 1.2M sitting and would really like to put it to work, I only own 1 SFR in Staten Island.

I rented out the additional bedrooms to friends and family, charging them well below market, and sold when it was time for my wife and I to start our own adventures.