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I'm a newbie currently in NYC, but looking to relocate for both a change of pace and more beginner friendly real estate opportunities (looking at Dallas).

Hi BP,I've recently discovered this community and am very thankful because I feel I was able to course correct my mindset before I made my first big financial decision in real estate. My girlfriend and I have decided ...

Advantages Own the property free and clear immediatelyNo risk of foreclosureNo mortgage to meetCan keep the unit vacant until you have the right renterCan keep the unit vacant if repairs are neededAlmost all revenue (rent) is profitNot paying any interestLong-term property value appreciation Disadvantages Harder for beginners to buyAll income is taxable (minus expenses)Can’t take advantage of mortgage interest tax deductionReduces cash flow which could be used for other investmentsRisk of property value depreciating

If you have concerns about the heard mentality and its impacts on the economy I'd look at the valuations of the FANG stocks and potential localized impact they could have a RE market.5.

It may definitely get in the way when it comes to beginner investors looking immediately to Zillow or Redfin for properties and property values (as they usually do), but for experienced investors I believe they will be able to see right through their deals. 

To address this many states pass laws concerning the sale of a controlling interest in an entity... so while you may think you've avoided paying transfer taxes that is not always true.People also do this to prevent a property from being re-assessed in jurisdictions where a sale would typically trigger that.

I have no concerns about her integrity and ability to pay, I am concerned though about the financials and wonder if I should move forward.  

Is there anything else I should be concerned about or looking into? 

My main concern with it is that area is seeing a massive amount of new construction in both hotels and houses and if the economy gets soft the booking could get very competitive and rental rates could compress and occupancy fall.