Knowing who you plan to serve can guide you to what you should consider buying.

Trump has said he plans to keep owner occupied rates at 6% through 2026.

It's good practice in making the calculations needed to decide whether or not to pull the trigger on a potential deal.You soon learn that starting off as a Doctor is less advantageous than starting off as a Janitor, because the game presets your income and expenses based on the job title.

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

If not, the only requirement may be filing plans with the dept of buildings.One of our contractors does the bulk of his work on contracts with NYC.Mainly work related to bathrooms & tiles/flooring, I will shoot you a PM if I can get any information on this.All the best!

At a minimum,  you should understand what the current zoning is and what restrictions there are.As the post above mentioned reaching out or going in person to speak with the planning and zoning department will be very helpful. 

Sounds like a good plan, should have plenty of options available.I would be cognizant of any group you talk with on two areas, the location of the property including any potential concerns of it being 'rural', as well as the minimum purchase price and/or minimum loan amounts.

Right now I am looking at a new construction, we are planning on recouping equity investment through refinance, holding for five years, and selling it to cash in on the appreciation. very knowledgeable post, thank you

I'm planning to finish all of these this month. 

We started this in 2019 and plan to continue forever so we can look back and see our growth.