(the owner says no realtor/wholesaler so I'm not sure if we still can engage with an agent)-HS

If you get a good deal and stay under budget you shouldnt have any problems cash flowing.Best of luck Elivs and congrats on the engagement!

We define a good tenant as someone who: Has stable employment in a market segment that is very likely to be stable or improve over time.Pays all of the rent on scheduleIs credit based, not cash based.Takes care of the propertyDoes not cause problems with neighborsDoes not engage in illegal activities while on the propertyStays for multiple yearsWe also consider factors like rehab cost, rehab risk, accessibility to jobs, long term maintenance costs, time-to-rent, crime, age, construction, location, and average length of tenant stay in that area in that price range.

I look forward to engaging more with this community.

In this scenario, you'll probably want to engage a law firm that specializes in both Real Estate Law and Bankruptcy Law.

What is less clear is potential license liabilities of licensed parties engaging in transactions where unlicensed wholesalers are receiving compensation.

And, prices in New York have not fully recovered to their previous peaks in real terms according to Case Shiller before turning downward, meaning that people who simplistically believe that a market will always return to its previous peak are engaging in wishful thinking.  

Here's a short list of them:  How long have you been actively engaged in real estate investing?

Bottom line, decide on your engagement and risk level first, and then look for an investment type that suits your needs best!

I invest heavily in RI and would highly recommend engaging with a quality attorney that knows the local ordinances.