Your property management company can help once you own the property but up until then you need someone good on your side!!! 

Quote from @Lee Banks: Hi my name is Lee I'm looking too buy my first rental property and but I feel as if I need a mentor to watch, I still need to learn the basics of real-estate does anyone in New York do programs or mentorships and where would you start if you first started real-estate today  Hello Lee,I'd recommend looking up local meetups here on BP, meetup.com and, eventbrite.You can also call around to speak with RE investors and professionals in your target market to begin making connections.With so much available information online, I'd recommend speaking to a few people and doing independent research before committing to mentorships.

To be considered an investor (and possibly get long-term capital gains rates), you’d need to hold the property for over a year as a rental or investment, not actively flip it.Check out the IRS guide on rental real estate and capital gains for more details: IRS Rental Property Tax Guide.You might want to talk to a CPA who specializes in real estate to see if there are any strategies that work for your situation.Good luck on your flip!

I actually haven't considered development as a real estate path yet.

Otherwise, I’d save my cash for the next acquisition.I’d also be posting on every social media platform and telling everyone I knew that I was looking for more real estate deals.

But main point here is, grouping elections can unlock real estate depreciation deductions in sort of the same way that "real estate professional status" and "short-term rentals" do.Amazing!

Start building relationships at real estate meetups, REIAs, and even through property managers who may know of landlords looking to offload properties.Do not overlook the power of your personal network.

For the past decade, my husband and I have run several real estate investor groups here in Milwaukee that allow us to be very attune to what is happening in our local market and I'd be happy to warn you about things to watch out for. 

@Lawrence MitchellIt’s great that you’ve built a basic understanding of real estate investing!

Property is occupied but lease renewal is this month.