NY Market is very competitive, so getting a good deal might be worth the investment of being flexible with your preferences or any upgrades needed on the property; cheap houses are houses that need work or problems that need to be fixed. 

I do not think that we are being “cheap” by any means.

@Jeff CostaI have an attorney in PA that can review but they are not cheap (but very good)

So they'll sell it for cheap anyway (not full retail) and then pay the 6% on top of that.

In order to harness as much of the effects that add to your net worth you want to buy as many assets as you can, and as much quality as you can afford.It is very tempting to go into cheap neighborhoods, but especially with the old housing stock we have in the Midwest capex will exceed cash flow over time and you are not building equity.Consider your first deal a proof of concept.

Just some food for thought for those who invest in mortgage notes and think buying seconds cheap gets you in the business at a low barrier to entry  - it is cheap until you have to reinstate or payoff a first lien.

Many of us rode that wave, using cheap financing to expand portfolios.

Our annual pass is stupid cheap for what we offer.I will say that while we do have a whole lot of sub2 investors that attend these groups, we don't put an emphasis on that strategy.

.- Take all the cheap prints off the walls. 

Cheap is expensive in the trades.