Hey @Christopher Morris,I piggyback on some of the others, but I'd connect with a referred lender ASAP to go over your options/budget/pre-approval.

With your budget, you could potentially house hack or grab two smaller properties to diversify your investments. 

To plan investment and future rental goals in Albany, research market trends, explore financing options, understand landlord-tenant laws, manage property early, budget for maintenance, and connect with local investors.

We see it all the time with the conversations on what cars/vehicles folks drive :) here in BP there is a badge of honor to drive a 20 year old 250k mile car/truck :) Myself I saw my dad do some of this although he never got to the utra wealthy stage by a long shot but made good money in RE however it was not until he bought old style timeshare in Maui that he would finally take a vacation..

@Jacques CaspiTo succeed in real estate investing, I’ve found it’s crucial to budget for unexpected expenses, focus on thorough tenant screening, and build strong relationships with contractors.

Eliminate debt, establish a budget, and save.

Set a clear budget, research properties carefully, and keep growth potential in mind as you plan.Good luck!

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

If the taxes are killing your cash flow, you'll need to either negotiate a lower purchase price to offset the tax burden or budget for some property improvements that could increase rental income and help balance things out.

At property value of $800k (my budget), the transfer tax will be $8400 alone.