Sometimes I actually walk away from the deal - Not All Creative Financing Deals Make Sense. 

Actually have people contacting me before I advertise a unit available.

The equity is actually what you are paying for the property.In this case let's look at the numbers that count,...the current numbers.You have about $500k or more in equity, which is buying you a property that's worth about $700k (I went with the lower PV. 

An appraisal fee in advance for an actual appraisal is legitimate, but you can find lenders that don't require appraisals and don't charge appraisal fees.

But I noted that places like North Tonawanda as @Pravit Jarriyapurttipong mentioned are actually outside of Erie County, it's in Niagara County, which follows the stricter landlord laws as New York State... https://ag.ny.gov/sites/default/files/changes-in-nys-rent-la...Would you recommend sticking to Erie County boundaries for this purpose?

Pete, try looking at cities within an hour of those areas.Lately, I’ve actually been seeing more properties hit the 1% rule, which hasn’t happened in a while.

so I can officially know about the dog, licenses, shots, etc.Thanks.You might not actually have any issue.

I actually aim for not having any one real estate investment make up more than 1% of my net worth.

My recommendation is to have someone put in excel and show you the actual numbers.

2) How much do you actually know about construction?