I know that i could buy my next multi family property as a primary residence close by move in, rent half live in the other and than rent where i am now which would cash flow upwards of 1k monthly, or i could buy another multi as strictly an investment property out of state which would be a lot cheaper (taxes and cost of property) and a lot more landlord friendly laws than New York, i guess i’m just undecided on which route i want to take and I’m trying to weigh the pros and cons of each scenario.

Quote from @Polat Caglayan: How much do I need to invest for a house and a thousand dollar income?

. - Despite 3 tenants in under 3 years, it has done very well for us and has only been "vacant" for 15 days in that period, and has great cash flow, ~$1000/mo due to ~50% equity in the property, and a low covid-era interest rate. - I have been saving ALL of my cashflow into its own account to accumulate to buy the next rental (totaling ~$24,000).

And a pro forma vs. end of year actuals are very, very different.

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.

Great investment, a lot of learning, and a good ROI Lessons learned?

And a big Welcome to BiggerPockets.  

Equity from sale can go to the new property AND a DST/TIC tax free as long as I have at least a mortgage/debt of 225k on that new property?

Avoid common pitfalls like skipping due diligence, underestimating repairs, and overleveraging having reserves and a strong team is key.Good luck!

I am also a project manager and a architectural designer for a real estate developer in NYC.