I would visit local meetups for real estate investing, and also network with agents in your area that work with a lot of investors.

A 1031 exchange doesn’t apply, but funding through a self-directed IRA can defer taxes, though profits from debt financing may trigger UBIT.To reduce taxes, consider forming an LLC for better expense deductions, offsetting gains with investment losses, or holding the property for 12+ months to qualify for lower long-term capital gains rates.This post does not create a CPA-Client relationship.

They can also guide you in choosing properties that appeal to dependable tenant demographics.Access to Reliable VendorsProperty managers have established networks of cost-effective contractors for renovations and repairs.

Would love to attend and begin networking with other investors.

Think about where those people hang out and network. 

What is your plan on networking in NYC?

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

I am looking to build up a network here on BP.

Have you discussed the strategy with your CPA? 

This deal came through Partner Driven's local network in Windsor, NC.