Being a broker in Western Washington and an investor in Tacoma, I completely understand the challenge of getting started in this market.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Totally understand the struggle of gathering insurance quotes - BP makes it easy for you! 

So it would be best for him to first understand how this would impact his taxes and estate planning then structure the sale based on that.

If I understand correctly; the seller would receive 80% ($40,000) directly from the mortgagee at closing and would enter into a personal agreement with me for the 20% down payment ($10,000) in which he would be reimbursed separately from my mortgage payments at a separately agreed upon rate and term?

I have lived in Truckee for over 23 years and understand the pain you can go through dealing with a local government where the answer you received on Monday is different than the answer you receive on Tues, Wed, Thur & maybe even Friday if anyone is working.

But I understand where I’m at now, and am willing to work for free until I can provide such value.A little about me.

2) How well do you understand the differences between Class A, B & C?

Since you're open to markets beyond NYC, you might want to connect with local investor meetups or REI groups in those areas to build relationships with agents, wholesalers, and lenders who understand the nuances of each market.If you're looking to break out of analysis paralysis, maybe start by narrowing down one or two target markets and running numbers on actual deals.

Be conservative and understand how to walk away from an "OK deal"All the best!