Quote from @Joe Paasch: I have joined this site to gain important incites, discussions and plans to build a successful portfolio.  

Class A- Brand New buildings with lots of amenities, good infrastructure & locationClass B- Building are usually older; priced less than Class A & need some updates/restorationClass C- Oldest buildings (20+ years); need significant maintenance; less attractive locationsWhere things become subjective is an older building located in a neighborhood that's changing for the better. 

I have a portfolio of SFR out of state, but I am looking to start doing some deals on LI and want to build my network up here.

I would strongly consider building equity to make a stronger down payment and further decrease your monthly cost. 

Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.

@Josh H. it sounds like you have experience, you know your numbers, and have confidence. 

Purchase price: $3,636,000 Cash invested: $700,000 This is a brand new 40 home build to rent manufactured housing community.

@Robert Ellis Since you mentioned panels, have you looked into SIPs at all for your builds? 

How to Track Regulatory ChangesStaying up-to-date might seem daunting, but the right strategies and resources make it manageable.Key Resources:Local Government Websites: These often publish updates to zoning, rental, and housing codes.Real Estate Associations: Organizations like the National Association of Realtors (NAR) or local landlord associations offer regular updates and seminars.Newsletters and Blogs: Subscribe to reputable legal or real estate blogs for insights into upcoming changes.Professional Advisors: Build relationships with real estate attorneys and property management professionals who can provide guidance tailored to your market.Pro Tip: Set up Google Alerts for terms like “rental law changes” or “landlord regulations” in your area to receive real-time updates.3.

But who has the confidence to go really big on their first deal?