Prioritize your financial stability.

You'll want to put together a personal financial statement (basically lists of all your assets and liabilities) and have your tax returns ready.

So you have bad financial terms working against you along with finding properties, making deals, getting financing etc Secondly - for me it's time consuming.

I work full time at a decent job, but have quickly learned that I needed to make some changes in my families life by securing our financial future. 

@Eli Fazzojust curious - i am assuming your NY rentals have debt on them. 

Quote from @Michael Smythe: @Jerry NoguerasRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Quote from @Danth Aman: Quote from @Victor Patel: I don't see a problem with this as he has disclosed his financial interest in the property and him being a licensed agent. 

They love the idea of wealth, financial freedom, but don't want to put their own financials on the line.

Another would be you are building other units next door/nearby and you can chalk this build up to the "learning curve".I didn't see a CFO on GLH or GLC's website, but I'm sure you have someone doing this type of financial analysis for your developments?

@Robert BishopTo prepare for your first real estate investment, build a strong financial foundation with a credit score of 700+ and an emergency fund.