I have not started the core due diligence yet, but from the surface and analyzing the preliminary numbers I have received, it appears to have some good potential. 

I am apart of a team of 3 that is in the preliminary stages of property/market research.

@Kimberly Carias First get prequalified with a preliminary estimate of what your monthly mortgage would look like and then start searching for properties within your qualification limit.

Perhaps I am looking for more-or-less turnkey properties at this point ... but at the same time, I'm just trying to really solidify my initial preliminary investment/real estate strategy.

I have done some preliminary research into some towns with more affordable house and taxes closer to 5k but wanted to see if anyone has some hidden gems on long island or even NJ (if I was to work in the city). 

Where we lack is understanding on some of the preliminary/elementary questions to have answered before moving forward with a project.

Our plan is to purchase a multi-family home early next year (with a preliminary budget of $800K or less), live in one-unit and rent out the other(s).

I use the 1% rule for the preliminary analysis for cash flow.

Also, would you complete a preliminary title search before bidding on a property? 

All this is very preliminary because I'm still in the learning phase.