For me this involves making a lot of spreadsheets, but I will give you the outline.1)Establish risk capacity and tolerance: Capacity=how much can you afford, and tolerance=what you actually feel safe spending2)Use that information to narrow down what is available to buy: The amount will buy you a duplex in PB with 2 1/1's, will also get you a 4plex in Lemon Grove with 4 2/1's3)From there do the research on all of the available units that fit your criteria: This includes, but is not limited to, historical data on appreciation, market rents, historical rental data, and migration trends.4)Don't be afraid to wait for the right propertyI hope that I was able to simplify my process for you in a way that is helpful.

Not sure if this applies to you but if you are planning on building lots of units it could be a natural fit. 

I'm in Texas as well (Dallas area) but we don't work with clients that have rentals in NY so we wouldn't be the best fit to work together but more than happy to chat for a few minutes.

I selected the applicant that I thought was best fit. 

.- Business Model: Looking to provide flexible financing solutions for individuals and businesses who may not fit traditional lending criteria.- Regulatory Compliance: Ensuring all legal and regulatory requirements are met for private lending.Questions for the Community:1.

I'm not sure how straight-forward your rental amounts are, but I needed the ability to line-item out several different charges (CAM fees, etc.) as well as have different base rent amounts based on the year of the lease (cost of living increases yearly) and found that Innago was the best fit for me. 

Since investors and househackers in New York are exposed to more inventory, they are seeing dozens of available properties that fit their criteria vs. just 1-2 properties a year ago.We have more available options, which results in househack investors and homebuyers having more time to negotiate lower purchase prices, better terms, and more favorable contingencies.

It took years for me to find the right fit with some of our partnership groups, but once you hit gold...game on. 

A strategy that fits your current financial situation and your financial mindset and goals. 

It doesn't fit the "20% rule" for STR's, but it is cash flow positive; the 3b/2ba is cashflowing around ~$400/month after PM fees + utilities.