@Vincent SottileOnly thing affordable in NYC are Coops, for ex in Riverdale next to Manhattan you can get a 1Br in 180k range or studio under 150k range in a 24 hour doorman building.

For ex: If you bought a home at a very low interest rate and rates increased, then bank can call the note so you have to either pay or refinance at a higher rate.Can be expensive to maintain if you only have 1 or 2 propertiesTax benefits:I think tax wise both approaches can be handled as pass-through taxation but there are advantages to an LLC if you have a big portfolio or actively flipping houses etc.

That's part of the reason we're seeing all of this new development, and why businesses like Trader Joe's are now opening in the area.The 1 Million MSA population's effect on Grand Rapids shouldn't be underestimated.  

What would you say are the best strategies or renovations to increase property value (for ex. renovating the kitchen)?

This makes sense - too hard to value, forex issues etc.

Starbucks and Trader Joes could mean .....?

Investing requires that you use your money and hold, mortgage investing is not like stocks with day traders.

The LIBOR scandal, together with the fairly recent FOREX scandal, is a big wake up call to those that don’t believe in financial corruption, such as in the example of Lloyds Bank.

@Gene Hacker The Dollar Milkshake theory is from Brent Johnson, a macro trader.

Jesse Livermore: World's Greatest Stock Trader It's not a how-to book, but fascinating and filled with lessons.I'll also second any book written by William O'neil