@Melissa SejourRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Consider the aesthetics, privacy and reduced contact with passers by if there are animals involved.  

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It was a full-time job to manage my property manager here--and a good thing I did because the mistakes (often involving them wasting my money) just kept piling up.

., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.

Costs and Timeline: The process of splitting and developing lots can take time (1.5 years) and may involve significant costs for permits, construction, and other development fees.If you want to learn more about how SB-9 can work for situations like this, check out our website "CityStructure" for more info and helpful resources.

If real estate is involved, separating it into its own LLC before the sale can simplify the process and make it easier to leverage a 1031 exchange.This post does not create a CPA-Client relationship.

.- Property purchased in July 2024- Rehab not complete, and I got a local person involved who meets them on site weekly as my representative on ground- Due to his observation, we discovered foundation issues that need correction.

Reducing risk requires at least some time spent in research and involvement in a deal.There are many other things you learn along the way as well. 

@Omar Fernandez - you can start by reaching out to some attorneys, NYC is an attorney city so you'll have to get an attorney involved (who usually orders the title search).