Is anyone seeing a sizable increase in pre-foreclosures in their market yet?

By year two, he refinanced to lower his rate and dramatically increased his cash flow.

Increase your due diligence in screening tenants during the next couple of months.  

That will require a rough and final inspection. 2) When installing drywall you will need a nail/screw pattern inspection. 3) You will need to provide 'conditioned air' to these rooms..how are you going to do this and that will require inspection.Will you have to increase the size of the electrical panel?

@Ryan Williams - Leverage always increases your returns.

This can lead to consistent limit increases every quarter, which opens up even more opportunities for growth.Having good rapport or a strong relationship with a credible accountant to help simplify and oversee this process is an amazing idea and highly recommended.

A fresh coat of paint in a modern neutral color and updated lighting can really elevate those spaces.Adding a deck or patio can be a great way to increase usable living space and boost value.

Also considering live and flip, or make our first home we buy an opportunity to increase our income as well (renting basement or part of the unit).

If the rate is reasonable then it may make sense to try to save fast to get to the 3.5% down payment on a double or triple - househacking may allow you to increase your savings rate and pay down that loan even faster.As for estimating costs, closing in NY factor at least 1% of the mortgage amount for tax, plus $1500-2000 for lawyer, title and fees, then the amount required by the bank for escrow will depend on the actual property taxes and insurance.

It’s easy to find tenants, population/jobs are increasing, and property taxes/insurance aren’t skyrocketing.