Any recommendations you all have in terms of reading, educational meetings, or anything else you find helpful to get a new investor going would be much appreciated.

If all else fails, 😀 ReSure's got extensive resources on all these subjects in our educational platform (which actually includes some plagiarizing from Michael!

It certainly sets an interesting precedent as it means if you add a safe unpermitted unit today, it may be protected in the near future so that safe units are not removed from the market.

Quote from @Scott Tennell: What creative financing strategies have you found to be the most effective in today's real estate market, especially in terms of working with sellers or investors in challenging conditions?

Educate yourself on the differences between checkbook control and custodial control.   

@Jed Butikofer you are in the right place to start getting the next level of education.

In terms of the second scenario, the upside I see is the option to get a different kind of loan (say, FHA with a lower down payment and other assistance programs for K-12 educators like me) since I'd be getting a new primary residence instead of a second home.

Once you get through move in, the day to day management is pretty hands off and easy (famous last words, but so far, so good).Other than that, get a second opinion/eye from someone you trust - preferably a professional designer - on the furnishings and design.

Not sure what the process is like there but compared to NY, it is a faster process.We just toured an occupied 4-family in NY today with a client and the eviction process for those tenants commenced not long ago (within the last couple of weeks).

And if you still are hesitant to get started, and think this mentorship could help, I would have a list of very specific questions ready:If you issue is finding good deals (welcome to RE today), ask what Tom will actually do to get you more deals?