The payments for the management of the property and the book keeping will come out of the cash flow of the property.9.

I have a lot of colleagues with multis in Philly and all are doing well because of low taxes and high reliability, but it has its challenges.

You will likely need to save up for your next down payment.

Does anyone have any recommendations of first time home buyer grants or down payment assistance programs for New York State?

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

Plus, I'd prefer to take baby steps before investing out of state where I could better afford a 25% down-payment.

I'd be seeking someone to fund the down payment of the deal and I would be responsible for property management/bringing in funds for initial renovations for a profit/split.

While I love the idea of eventually owning a paid-off primary residence, I’m debating whether it’s smarter to sell our current house and use the equity as a down payment on the new home or to keep it as a rental.

Easy Street is a good option BUT you need CASH in liquid checking/savings for down payment of 20% and BIG chunk 2-3 times loan amount to buy out of a prepayment penalty.