To me BPRE was more about the individual stories of the investors and how they operate, with the hosts sharing their experiences as it related to discussion.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

While I have managers handling the daily operations, I still oversee everything remotely.

If there is no debt service probably 30% is still going of the rent is still going to operating expenses which means that you only made about 480k or so. 480k rents + 800k property is the same 1.3million roughly.

Therefore, your financial freedom hinges on new companies continuously moving into the city, creating replacement jobs.Companies have many options when selecting a location to set up operations.

How do you plan to operate it?

These are professionals with additional training and a stricter code of ethics.

You operate in the Bronx, how it going?

He was at the heart (and brain) of a fantastic educational operation – one that was undervalued because he did not charge much for it.

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.