I am new in BP, and I am looking to understand where I start with learning about REI.I currently live in New York which it's not a good place to start investing.i know the difference between STR,MTR,LTR....

That doesn't surprise me about NJ, knowing what I do as a person who's lived in the tri-state area for 25+ years, especially since becoming a father and coming to truly appreciate what NJ has to offer offer.

Your rate will be higher than current, but give you your cash out to use for future opportunities. 

And you probably need money for living expenses.

Are you planning to rent it out or live in it?

Quote from @Gabriel Williams: Been listening to BP for several years and I’m currently working on our 5th deal.

Hello, I live in southeastern Wisconsin and currently have a long-term duplex in Wisconsin.

Lenders will want a letter from your employer that states you are allowed to work remote from where you currently live and that this move will not affect your income. 

Hey @Spencer Cuello, so you will find most of us aren't fans of arbitrage.I see you listed NYC so you know that you can't do a STR in the city unless you live there.IE: You need to be onsite, living in the same unit you are going to rent.As per usual...

Buy and Hold investing is a great avenue to begin with as most people live their lives off of residual income.