Make sure your first rental cash flows well by running the numbers as if you were buying it today.

Our cash-flow has dissipated to zero, and it took 4 years.

Rates were still extremely low, which made both properties extremely lucrative with cash flow.

I personally walked and researched every property prior to investing to understand what I was buying, what could be done to add value and what I should expect in cash flow and appreciation.Learning what makes a good investment for you is absolutely necessary. 

I can see why you'd get good cash flow! 

As the cash flow is obviously much worse than you can earn in the bank with a basic CD.

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

For expansion, innovation, or simply covering cash flow during slow periods, access to capital is often a barrier.

Cash flow great.  

Quote from @Brendan Jones: I am very new to learning about real estate and am looking for advice on my first home and how I can best use it to help offset my mortgage and generate cash flow.