Bad part about low money programs people don't talk about, before 2022 this would not be a factor

While the townhome is in good shape overall, it does need some mild cosmetic updates to bring it up to rental standards.My goal is to leverage this property to start building a real estate portfolio, but I’m not sure what the best first step is.

But I purchased land in cash and leveraged it to build a new construction stick built home.

Lastly, always keep your job and build your employment foundation because that keeps you income relevant and lendable.Hey thanks for your reply!

Here is a video that runs down the basics - https://s-media.nyc.gov/agencies/specialenforcement/01-Legal...There is also a prohibited building list - https://www.nyc.gov/site/specialenforcement/registration-law...Here are some more info overall - https://www.nyc.gov/site/specialenforcement/registration-law..All of this makes STRs in the city pretty tough but it certainly not impossible.

What factors should I consider when setting rent per room?

I definitely plan on building a team in the market we select. 

When considering refinancing, also factor in the closing costs of the new mortgage to determine if it actually helps you.

A little about me: i’m new to the real estate world and eager to learn everything I can to build a successful investing journey.

The other half is a mix of spec and owners buying lots to custom-build for themselves (more of the latter than the former).