After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

Once you have cash in hand, you can unlock the unit for 24 hours and let him move his stuff out.I would also consider charging an additional deposit of $500 or something, just to prevent him from leaving all the trash or stealing your refrigerator.

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.

Purchase price: $75,000 Cash invested: $10,000 Sale price: $120,000 This is a 2 bedroom 1 bathroom single family detached house is South Georgia.

Are you looking for immediate cash flow or longer term appreciation?

Yea the area doesn't look like it will appreciate much, I mainly look for cash flow.  

Purchase price: $350,000 Cash invested: $10,000 House hacking my first home by converting the master bed into an independent studio that we rent on Airbnb What made you interested in investing in this type of deal?

@Joseph Opoku Yeah you can still get positive cash flow from day 1 in pretty much all areas except the A class neighborhoods.

Eventually whatever you will buy will cashflow and cash very nicely.