I am planning on not resigning my lease and starting of my RE venture. 

Hi Steven,Welcome to the Forums.Wishing you both the best as you get started!

But for homeowners its fantastic way to start in home ownership one of the best I have ever seen !! 

In Chicago you request a CHA Burden sheet and that gross number minus utility allowance will be what you get in addition to making sure bedroom size is adequate.  

. $8,000 could got you started on a deal, or do a mailing list of some kind.

However, given the price points in NYC, I am looking to southern CT so that I can start small for my first project.

If you’re thinking about diving in, I say go for it—but maybe don’t start by living in a closet.

I would start close to where you live personally. 

I went from a W2 job to building a portfolio of 500+ units over the last 5 years by starting small and scaling smart.

I set these base rates a year in advance, knowing that prices increase from Jan to Feb to Mar to April, and then decrease starting in May in the desert environment of Joshua Tree and Yucca Valley, CA.