An attorney that practices real estate is a good choice, an attorney that invests in real estate is a better choice.

Currently, my strategy is to rent to section 8 tenants for the guaranteed income.

I know a lot about the industry through my education, but have very little/no practical experience when it comes to managing investment properties. 

Do you get any volume discounts or better service due to the volume of your business from the current providers, that might be something to consider. not sure if that is even a thing for lawyers though.

The BRRRR strategy is a systematic approach to real estate investing that revolves around five key steps:Buy: Purchase a property, often below market value, that has potential for appreciation and improvement.Rehab: Renovate the property to increase its value, make it livable, and improve its rental potential.Rent: Find reliable tenants who will pay rent, allowing you to generate consistent cash flow.Refinance: After the property is rehabbed and rented, refinance it to pull out the equity you’ve built through the renovation.Repeat: Use the cash obtained from refinancing to fund your next investment property, starting the cycle again.Step-by-Step Breakdown of the BRRRR MethodLet’s take a closer look at each stage of the BRRRR strategy to see how it works in practice.1.

I find it odd that this isn't a more standardized practice.

Practice analyzing deals, explore surrounding markets if NYC feels too competitive, and stay persistent, closing your first deal takes time but is well worth the effort.Good luck!

Here’s how I’d break it down and strategize your entry point.Key considerations include the current and pro forma cash flow.

There is a storage deal that is actively being raised for over there that you can practice analysis on.

In Phoenix, a 1996 build is practically brand new when compared to a WWI-era home in Cleveland or Pittsburgh or some other Midwest or East coast city.While I agree that older homes come with more problems, buying something newer may not work as the price will be higher and won't cash flow as well.I'm of the mindset to buy what fits your budget and investment goals.