I purchased a two-family property in 2017 and now have around $500K in positive equity.

If it's in the restricted zone (within 31 miles of the coast or 62 miles from an international border, you have the choice between using a bank trust and paying the fees mentioned above or using a Mexican corporation and bearing the costs of establishing and maintaining  the corporation.

I really want to start my investment journey but I'm not sure if an out of state property would be a good choice while renting in NYC or if we don't move, to move to a cheap market, live in the property for a bit and then rent it out.

I would then interview a few and make a choice as to what one to move forward with.

@Cheng ChuMcKinney is a fantastic market with strong population growth, and it’s a great choice for single-family home (SFH) investments.

@Christian Solis For a fix-and-flip business, structuring your venture as an LLC taxed as an S-Corp is a smart choice, providing both liability protection and tax efficiency.

It is 100% the buyer's / investor's responsibility to do Solid Due Diligence before purchase. 

I understand why this is the choice asset for many: they are inexpensive with no barrier & easily financed (easily attainable). 

I definitely wouldn't sign a purchase agreement before seeing the property.

It’s great for tracking payoffs and managing commissions or fees automatically while giving you a clear picture of your cash flow.For mortgage lenders, Lendesk is a solid choice.