Make sure to factor in all expenses such as property taxes, insurance, repairs, maintenance, repairs and potential rents. 2.

This strategy helps offset living expenses and can be a great way to start building a real estate portfolio.Short-Term Rentals (Airbnb, Vacation Rentals):Rent out properties on a short-term basis, often on platforms like Airbnb.

It's a good move to keep things separate – set up a business checking account for your rental income and expenses, and maybe a savings account for unexpected stuff or future upgrades.

Has been working well from 2008 onwards till date, but you should have capital and should have alternate income to support the property expenses.

To reduce your long-term expenses, investigate several loan alternatives and interest rates.Property taxes, insurance, and possible homeowner association (HOA) dues are among the special costs associated with NYC.

Is my building really not expensive or big enough to where it makes sense?

. (# and size of offices, bathrooms,doors, windows, floor drains, lights, truck docks).If you make an educated guess you will likely still be tearing out or changing brand new walls and concrete, but if you leave it incomplete it is harder to rent.Plan on some extra expense for those tenant improvements.

Property managers can also be expensive.

What expenses am I missing? 

Real estate is crazy expensive, as I'm sure you all know.