- You missed utilities in your holding costs- For your first rehab you should plan on a little more than 6 months, just in case- You might want to double check your tax number as taxes in NY can be pretty high- The biggest area where mistakes are made for new investors when it comes to flips and BRRRRs are in the ARV and the rehab cost.

Hey Robert, high appreciation will bring you the biggest returns. 

After renting the house, you should be pretty dead on with your Bigger Pockets Rental Calculator Report, which I hope you used before you went under contract.The two biggest mistakes I see people make when investing out of state is trying to rehab a home and not doing home inspections.

You lose any appreciation play, but you also lose a downside loss when the market dips.

Hi Chris, I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here!

Do not listen to the folks that say "always raise rents" or "we raise by at least $25/yr"... turnover will be your biggest expense AND tenants WILL move over a $25 increase.

Checked serial number and it is easily 10 years old.In James case, he can only give estimates as the seller likely told him little...nor is he required to tell you anything about expenses.For income, you look at the lease and make a proforma P&L from that...it's the downside and risk of buying tenant occupied...but you wouldn't have reached out if you didnt understand that already :)

I like Columbus Ohio because I see it being one of the biggest metropolitan cities in the next 10-20 years, all signs are pointing here!

With the highest CoC ROI of about 4%, this would be the biggest risk.

On the downside, it can come with a high price tag and potentially raise living expenses.