So, cycles happen and we will likely have another down rate cycle in the next few years but it might just be due to another economic issue, so sometimes be careful what you wish for. 

But I am open to ideas.I see this environment as quite challenging to find a deal that will cash flow reasonably well in my area due to HCOL and interest rates (even as somebody with some resources). 

If they do not qualify because of poor credit or income issues compared to being self employed etc there are differences - but typically people don’t qualify due to poor credit and people will seller finance to these borrowers thinking they woke up at a holiday inn and got a finance degree when in reality they repeat their past mistakesRemember the definition of insanity is doing the same thing over and over again expecting a different result

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

From what I’m seeing, it looks like (and should continue to look like) the clay, Cicero, and Liverpool areas are expected to get some of the higher appreciation in the coming years due to close proximity to Micron (Zip Codes 13039, 13041, 13088, 13090).

Tax assesments can be way off.

Its interest income - unless you wanted to run it through a C corp but then you pay corp tax first.Other option is to use a deferred retirement account. 

We offered 30K under asking and got it under contract, after the inspection we were able to renegotiate another 10K off of the property due to repairs needed.

The entity you select can impact everything from how you're taxed to how you protect your personal assets.LLCs are often the go-to for real estate investors because of their simplicity and flexibility.

I’ve purchased rehab homes on Long Island that were cheap for the time due to the area or condition of the home.