I'm not in NYS, but in WA you can google the law and find what is required.Going off the top of my head here for WA:Deliver a copy personally to the tenant.If the tenant is absent, by leaving a copy with someone of suitable age and discretion at the rental unit AND mailing a copy.If neither of the above are possible, by posting a copy on a conspicuous place on the premises, handing a copy to any person living there, AND mailing a copy.There's also a form that goes along with notifying them.

The premise of the book is that the first real estate “investor” in our country was - ready for this?

I use|:3x month rent as minimum income625 or higher credit scoreOne year on job or if less, in the same fieldNo smoking ...in or on the premises.

Understood.

Had a call yesterday from someone who did seller financing, did not use an attorney and has no idea what they even signed or understood the terms.Mind blowing

I never understood it to mean chasing cash flow.

There is a certain amount of "on premises" management that you need to commit to; if you do not, you risk everything you own.  

If he isn't open to that, you need to find another contractor.Thanks Jeff so here is what I understood - EZ or construction permit - Step 1Mechanical permit - Step 2 for the HVACPlumbing permit - Step 3 for the new bathroom to addHow long does it take for the town to send someone for the inspection for these 3 permits?

YesI still believe your premise that it is likely a purchase today looks pretty good in 10 years.  

I 100% disagree with the premise than an investor has to choose one or the other.As an investor, why are we not looking for cashflow AND appreciation?