I am looking to buy a condo or apartment in nyc five borough area or any neighbouring counties( Long Island, Westchester).

Vetting the operator or borrower is very important.

So I dont think I can say No here, or can I since we are married in a community property state?

During construction you'd have minimal payments, either IO or accrued.

You’re going to have to buy at least $1M (or whatever you clear after selling costs.), worth of replacement properties, not $500k.

Has anyone here been or is in one of Pace's programs?

Can anyone share their experience or any advice?

We've seen 3% for 100+ unit apartment complexes, but they also have onsite staff not included in the 3% management fee.Two other pricing options to properly understand:1) Fee charged based upon tenant payments or just occupancy.

Your son is responsible for making payments on time or ruining this seller's credit. 

There are any number of Real Estate schools available to you, so choose the one that compliments your learning style, whether that be online or in person or a hybrid.