If you are fully committed to purchasing rather than renting, I would suggest to try and get into the best area with the best schools you possibly can.

I hope no one is using this to actually purchase property subject to.

I would like to purchase a three or four Plex and live in one of the units.I understand I can use an FHA loan or conventional loan with only 3 to 5% down in order to get into the property however I live in a very expensive area and the properties I am looking at are currently 700+. 

Purchased a little too high at the buy (I knew it at the time too), does a little better than breaking even on cashflow, and took too long to rehab.

Westchester, although one of the hottest markets, has a ton of upside with opportunities for both cash-flow and equity. 2-4 family properties in Westchester are the 2nd most affordable in the NYC Metropolitan area (next to Suffolk County) making it easier to find cashflow opportunities when compared to the boroughs and other suburbs like Nassau.A client of ours in Westchester recently purchased a < $800K 2-family with a detached 3-car garage which brings in additional rental income - from a local business owner with commercial vehicles.

From what I can see around here it is a landlord friendly state so when you turn your prop into a rental you should do well as long as the numbers are good.Acquisition is all about entry price.

If you are going to purchase real estate in an LLC or any entity for that matter, I recommend titling the real estate correctly from day one.

Your original purchase is depreciated over 27.5 years.

Purchase price: $107,000 Cash invested: $80,000 Sale price: $280,000 Sourced an off market fix & flip deal in the western suburbs of Atlanta near an area where I knew an Amazon facility was being constructed and buyer demand would pick up.

Makes complete sense to purchase a property that breaks even or loses money.