I think the first question is do you want to be an active investor or a passive investor? 

I wouldn't invest in MA or NY, simply because of their eviction laws.

I'd be happy to discuss our mentorship or point you in the right direction. 

The high end is the 20 or so co ops on 5th Avenue or Park Ave (one is on East End Avenue) that require liquid assets of $100 million + to gain board approval.  

@Marc ZakThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

Be lendable or 2.

With regards to your example about plaster vs. drywall most insurance policies no longer will pay for the plaster whether you have a public adjuster or not. 

For those who’ve used it, what strategies or sources have worked best for you when covering the difference between your loan and the total project cost?

@Karolina Powell Just some high level thoughtsDeal #1:This is probably something I would only be interested in if there's equity to be had right off the bat or soonish.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.