However, keep in mind that in some states including mine (PA) that you get hit with property transfer tax twice.

We are lucky to have contractors we use regularly locally and get bumped up in the cue when we need work done because they know we are here for the long haul and will keep bringing them business. 

Cousin A wants to keep the tenant and give them a break, while Cousin B wants them out on the street.7.

One thing to keep in the front of the pages, is to remember that the equity will have an APR, depending on the property you are aiming.

My apartment building is stabilized under the J-51 program which is an incentive for landlords to update older buildings as long as the keep the rents stabilized for a certain number of years.

It's really hard to say with the specifics you have but definitely keep yourself protected.

I'm deliberately keeping things overly simple here because secondary market ops and fixed income pricing can get complicated quickly. 

You should definitely always keep this in mind when underwriting these investments.

HI Jacorion,Glad you are starting off your journeyYou can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

Might be worth keeping it for a couple of extra months to hit the 2 year rule.