Everything is highly individualistic and there isn’t a “right or wrong”, but what works best for you and your situation. 1) what is your ultimate goal for your ideal investment property?

I am hoping to buy within the tristate area (NY, NY, PA) but am open to purchasing out of state if the situation works out, as I may not live here forever.

@Erika Caba I think if at the end of the year when you can evaluate the situation as a whole with everything taken into consideration and are looking at your tax returns if your goals have been accomplished with this building, whether it’s positive cash flow, off setting W-2 income, whatever, then I’d say it’s too early to throw in the towel.

This community is situated on Santa Rosa island, a 40-mile barrier island that accommodates two other communities: Navarre Beach and Pensacola Beach.We will focus our analysis on Okaloosa island, although we will provide in this section some brief insights for the other two communities on this island.

It seems the return is great on SFHs but inefficient in terms of scalingI don't envision myself one day owning hundreds of SFH but I'm interested to hear what you'd do in this situation: Continue to purchase good SFHs and hold?

It may also be beneficial to seek advice from real estate professionals or financial advisors with experience in this type of situation.

In these situations it's important to bake the cost of the heat into the rent.

What I am unsure of is the different ways I can finance a deal and which would be the best way for my goals and situation. 

-Ultimately, I can't stress this enough, do not "small time" yourself. 

So if you are looking for a long term relationship, it's best to workout a win-win situation.