I'm looking to buy houses with a big enough profit margin to make it worth while, currently i have about 95k liquid and 45-50k in assets and would love to know anyone's thoughts if they were in my area and in my shoes.   1.What areas to stay away from and why in LI,NYC,NJ. 2.What a basic flip costs using meaning lets say a full rehab or at least getting a close enough ball park figure to make a close to correct offer. 3.What an appropriate price per sq foot would be in the middle class areas of NJ,NY,Li. 4.

I saw an agent do this in Arizona and he earned $20-30K without ever stepping foot in a house in his home city.

I would not really be receiving any profit (barely break even with mortgage and HOA dues), but I would be happy to have someone else foot that bill for me as I lower my principal.

I purchased a gutted 990 square foot condo for $70,000 with a 203k loan with an additional $35,000 for construction for a total bundled mortgage of $105,000.

From what I can tell from the plans thus far, there will be limited "green space" or "communal areas" (the developer committed to "total green space equal to 1/2 of a soccer field") which I suspect will drive foot traffic to the local residential neighborhood. 

Also, to move our machines from the front yard to backyard, the door entry must be at least 7-foot wide.

It could be as easy though, as digging some spot footings and adding support.

Mostly interested for this year in acquiring a small multi family home to house hack and just get my foot in the door.

I found a 4/2, all wooden, 1980 sq. foot house with metal roof, on a property with some type of problem.

We will be getting specific legal/tax advise from our own counsel, but for now this is a 30,000 foot view to see if we at least agree in concept to a structure before really diving in.