It all depends on how active you want to be as you start out and how much experience you have thus far? 

Any lenders you’ve had a great (or not-so-great) experience with?

Managing five rentals can eat up a ton of time in any given week, often at times that are inconvenient to you and your personal interests (family, hobbies, travel, etc.).”That’s been my experience, too.  

@Abrahm Dimmitt we found Deal Machine had a better user experience while driving.

Usually prospective tenants that agents bring to showings will be more qualified to rent in my experience.

Just taxes will be 20k.I would run numbers like this:Property 1.5 million (minimum)Construction (Cheap end) 2.14 mHolding Costs (at least 150k)In my book, even according to your calculation, that means you put in at least (those numbers are on the low end): 3.8m! 

On these we are targeting g loans even we wouldn’t normally consider; EXCEPT for the fact that we are receiving so much collateral that we end up at 35% LTV or less.  

My problem i is my market is super expensive if I stay in the nyc area and I don’t have the confidence since I don’t have any actual experience to invest out of state do you guys think paying off my mortgage would be more beneficial than looking for more rentals .

For example, if I send my son money for books, can I do so as a property manager fee so that this is also tax deductible.4) If my son, finds the monthly payment to be to much while he is in school and I end up shouldering some of the costs, how long per IRS rules can I carry a loss on the property.Any help would be greatly appreciated.Thank you.

I'd check local STR FB groups and see if you have a local Real Estate Club.You can offer your services there, maybe for free in exchange for the experience.