If you move to NYC, focus on maximizing your earning potential while investing in affordable out-of-state markets with strong rental demand, like San Antonio or Indianapolis.

@Josh LansberryIt’s exciting that you’re ready to take action in the Raleigh/Research Triangle market, an area with strong growth potential.

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

The market does offer lower priced investment opportunities and higher cashflow returns, with ongoing revitalization projects like the DORA boosting appreciation potential.

Any advice on how to navigate this while keeping the deal intact or potential transfer of partners would be greatly appreciated!

In NC, tempered is required in potential slip/fall areas.

If I put myself in the shoes of the outside partner/investor friend, I would be very concerned because: 1) unclear and/or potentially conflicting business plan, 2) even with clarity in the BRRRR business plan, unclear in the viability of pulling it off with these market conditions, 3) the chances of dispute seems very high, especially if you're going to live in. 4 years ago, I went through a  similar thought process when purchasing an investing property with mainly my family money, while considering an outside investor to rehab for higher STR ROI... 

It sounds like you’re in a great position to succeed, given your extensive renovation expertise.As a fellow real estate investor, I completely understand how challenging it can be to choose the right design elements, especially when you want to make a space appealing to potential buyers.

Looking at refurbished houses in the area, potential value of the house could be $130-140k range.

The Midwest offers good cash flow potential, and Cincinnati stands out for its diverse economy and solid quality of life in an affordable market.I just wanted to share my experience to show that turnkey deals are still possible.