Thanks, @Elizabeth Wilson.I agree with you, today is a great day to thank all of the accountants out there for their hard work.  

I'm looking for info from the folks currently working in the area (anywhere on Long Island, and even Brooklyn/Queens) as to where they are buying, general specs on the properties such as size, price range, and market trends/demographic info that have produced successful results. 

I recommend Elizabeth Nourse.  

Portland area. Early 50s, 2 kids in college and one in high school. Looking for the next phase in our lives. We've always been real estate junkies and so it's a natural fit to try our hand at investing. Long term goal...

Like Elizabeth Colegrove said, if you are credit-worthy, qualifying for the first loan is relatively easy.

But this one particular property in Queens, New York the seller says "I want my new attorney to draw up the contracts".

@Elizabeth Colegrove Thanks!

A queen bed would fit nicely with some side tables, and the closet is big enough (has large sliding doors) to store a dresser.  

Sending you a shout out from Queens.

I'm a newbie who has been stalking the BiggerPockets forum, and finally decided I should create an account.  I've been reading a lot about investing in rental properties and am very interested in jumping in.  I didn't...