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.

With your first investment, you want to try and minimize risk as much as possible.

Keep in mind the potential tax implications mentioned by @Brian Eastman.

@Chris RossMemphis is a solid market with great investment potential.

If you don't have $10k cash on the sidelines you're taking on risk.

I imagine that the list is short and full of risk.

For every $100 million in public subsidies, approximately 1,157 co-living spaces could be created, compared to 313 studio apartments.The Bloomington City Council is reviewing potential ordinance language to facilitate co-living spaces, considering factors like parking, minimum square footage, and the definition of "family" in housing contexts.As real estate investors, it's essential to stay informed about such developments, as they can present new opportunities and models for investment.

Since you're in Destin, you might want to check with local firms that have experience with STR-heavy communities, as they’ll be familiar with the risks and requirements.

It's an amazing market to be in because you can still find the 1% rule and positive cash flow while getting amazing appreciation potential.

Conservative and low risk.