We are not currently interested in buying rental properties locally, due to how crazy tenant laws are in California.

Anyone have any experience with buy and hold multi family properties in Watertown NY (or even the surrounding areas of Clayton NY and Thousand Islands)? 

I've tried to buy decent properties in decent neighborhoods to minimize my risk, which also means there's not a TON of monthly cashflow, but I'm in it for the long haul and really truly looking for passive income or at least as passive as it can be. 

Investment Info:Single-family residence buy & hold investment in Weatherford.

But, almost everything seems to involve buying/selling in some form, and that means agents and brokers.

Looking at REITs, farmland, maybe buying land at auction. 

But if you are buying property in cash for, say, $200k, and need 50-100k for rehabs, that is a totally different risk profile for your lender.You could consider partnering with someone with experience.  

So, when you buy the tax lien, you do not own the property.

So my cautionary tale is when buying seller financed paper, make sure you are very in tune to the value of the property.PS: Even if this started out as performing, same concept applies - make sure you know the numbers/values of the property.

Can you 1031 a duplex (long term rental currently) or multiple duplexes to invest in a beach front property and use it as a short term rental? Any help is appreciated, thanks!