Hello all -I have been thinking of getting into realestate investment for a while with a goal of generating income stream (today my only income Is through my job - I make decently as a senior exec). 

By purchasing a multi-unit property, living in one unit, and renting out the others, you can cover your mortgage payments and start building equity while gaining rental income.

No one's income is fixed.

You mentioned buying a MTR condo.Is your income below $150,000 or are you able to claim real estate professional status?

Westchester, although one of the hottest markets, has a ton of upside with opportunities for both cash-flow and equity. 2-4 family properties in Westchester are the 2nd most affordable in the NYC Metropolitan area (next to Suffolk County) making it easier to find cashflow opportunities when compared to the boroughs and other suburbs like Nassau.A client of ours in Westchester recently purchased a < $800K 2-family with a detached 3-car garage which brings in additional rental income - from a local business owner with commercial vehicles.

If you find a property where the seller doesn't carry a mortgage, it is a great way for the seller to continue to settle the closing costs with a (sizable down payment) while still obtain income for 6 months to a year by holding the note for the borrow. 

Opendoor Technologies Inc. has released its annual list of the hottest ZIP codes in the country for home sales. 

Credit and background checks, minimum 620 score, income verification, and limit the number of people living in the home.Tenant Own Homes is popular as well, you own the land and collect lot rent!

Since my adjusted basis is about 50K, am I going to have a $250K gain on my income taxes this year?

I don’t know if I should invest in the Jersey market and put maybe 20-50% down on something, make less cash flow and make more appreciation, or every two years or so maybe buy something fully cash (my own $) in the Midwest let’s say 5-10 units and make more cash flow with no debt as with the income I make I can just save and buy more, don’t necessarily need to leverage in some markets.