Based on some of the research done, I am inclined towards starting out with a small multi family investment property (2-4 multi family home).

For now, consult a CPA to determine the best structure based on your income and investment goals.This post does not create a CPA-Client relationship.

In my flips I want to make sure permits are pulled and everything is above board on my flips...would there be pushback against my thinking based on your experience with this?

Since you’re based in NY, Detroit is just a short flight away, making it feasible to visit and get a feel for the market and the team you’d be working with.That said, I’ve worked with plenty of investors who have never actually visited and still built successful portfolios—it really comes down to having the right boots on the ground.

Bigger Pockets is a great place to learn and connect with fellow investors.I’m an investor based out of Columbus, OH.

@Daniel Baker I would say a lot of it is based on their training or their resources that they utilize to complete your taxes.

Real estate is not my of my knowledge base at all but I want to start working on building passive income now (I’m 44). 

Hi Erica, what I've notice is that high-quality (high-priced) washer and dryers don't out perform other based price models in rentals. 

People were so quick to say he was way off base.   

This allocation should be based on the fair market value of each component, typically determined through an appraisal or the values agreed upon in the purchase agreement.