I had been holding on to this money for a couple of years hoping to get a multifamily , but the prices in NYC are just crazy right now, I feel that we're in a bit of a bubble, and it came down to a choice between keeping it in a 1 year CD and generating 4K,or paying off my mortgage and saving 8K/year.

I don't know what a good vacancy rate is as opposed to a bad one.. but if your managing 2k to 10k houses I suspect your always have some manner of vacancy.. the main take away for me is you simply cannot buy property in the "cash flow markets" were your buying in the lower third of the economics of a given MSA.. those are just tough for whatever reason history has proved this.. most of the buyers have only them selves to blame here.. they are all mesmerized about COC returns and take risk they just don't understand.. then they blame the tenant and the asset.. when in fact its their own choices that lead to the inevitable in low value asset or bottom third in price point in a MSA..

But as long as the properties are chosen well, they are a much better choice than an annuity, at least for me.

Most renters will not pay renter's insurance and that is a choice but how would they like not to have a choice about carrying insurance because of the potential liabilities and expense should you come up against someone like them ? 

There are a TON of others but like you I had to find a way to get started and narrow my choices down.

I just want to try out STR at some point because that will be my primary weapon of choice to get a place in Maui paid off by vacationers, and would rather have some experience doing it first.

Also, if im going to move forward with this, would I still need to work with an agent of my choice or will builders generally already be partners with a firm?

Lots of better and easier to install flooring choices now than then!

But LLCs are a better choice than S-corps if you decide to get one.

So i have some questions:LLC is the best choice?