Hello @Hong Yang,I am a realtor, and I would never advise my client to buy a house (or duplex) with a leaky basement without doing further investigation. 

Hello Sam, A short term lease agreement would definitely be a good idea.

@Mike Yang I know some people in Pittsburgh that could potentially help.

@Ryan Starke@Wei Jie Yang@Jake ThiedeI haven't had any clients use this Freddie Mac program yet, as it is new. 

Try @Leon @Leon Yang undefined, @Joe O , @Robert Adams and definitely attend @Phillip Dwyer 's Meetups out there.  

@Frank Yang thank you for the info!  

Hey Sam...As far as negotiating goes... check out Chester Karass, Effective Negotiating.

If anyone has any tips on how to use the VA loan in NYC please don't be shy.Thank you all,Hong Yang

If the complex is in a very bad neighborhood I imagine you'll find a ton of 10 caps but you'll also run into vacancy problems as well as damages up the ying yang as you'll be dealing with extremely poor quality tenants.You can find a great deal that caps at 7% in a pretty good area and it would be a ton better than a 10% cap in a crappy area in the long haul.So don't limit yourself just to 10 caps.

Hung out w/ Leon Yang yesterday.