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.

I'm very new to this and would love to get your thoughts on this and are there any downsides to the process? What kind of documentation I need to get so I don't lose my capital.A neighbor of mine came with this ask of...

I would love to have a support of a group who knows what they are doing as I plunge ahead in my real estate investor dreams. 

Today it has good cash flow (~$6k/month using 49% expense ratio) and is up ~$1m above costs.  

For it’s part, Fannie Mae historically has focused more on purchasing mortgages from larger financial institutions, while Freddie Mac was originally designed to support smaller/regional/thrift institutions.

If you take that cash and try to buy units in the area, ask yourself what are they selling for?

The land that this property was built on was approved based upon the capability of the land to support the septic needs of a specified-sized property. 

I dont currently have any projects going in CA at the moment but I have been looking for a Summer cabin up by Truckee and I suspect insurance will be an issue although I will pay cash but I will still want some coverage.

However, given that many sellers have locked in ultra-low mortgage rates from 2020–2021, the existing home supply remains constrained, which will continue to support home prices in certain areas.For investors, rental properties remain a strong option in an inflationary environment.

There is virtually no reason to keep “cash” on hand for repairs.