And please include the following:-How much do you have to invest-Do you have additional equity partners-How are your personal financesJust to be honest, you're unlikely to be able to invest in the tri-state area, even in Suffolk County.

http://www.bizjournals.com/triangle/blog/real-estate/2016/09/new-york-style-brownstones-with-rooftop.html

Stacking a Texas style 'option' on top of a Bay Area EMD dollar amount is, to me, crazy. 

In addition, is the property rented or not, is it Section 8 or Regular Tenant.

Respected for his unique blend of creative and analytical thinking underpinned with a commitment to collaboration, intelligent risk-taking, entrepreneurial spirit and leadership presence within dynamic organizations he knows how to keep it real and close the deal.In addition to his business interests, Mark is involved in numerous community outreach and volunteer organizations including the South Brentwood Residents Association (advisory board member,) local homeless advocacy group The Giving Spirit (chairperson-fundraising, community outreach,) American Youth Soccer League (referee and division mentor,) and the Girl Scouts of America to name a few.

Let me know if you want additional information.Stephanie

You'll always have some repairs with Tenant Changeover, in addition to leasing Costs, Vacancies, etc. 

In addition to my full time job, I've got 4 kids under 10 at home.

An additional benefit seems to be the ability to pay my kids out of the LLC so that they'd also have some earned income in order to start contributing to their own retirement accounts. 

As you are aware, the long standing tenant can get a lawyer and assistance from the housing rights advocacy agency.Which could cost you court fees, relocation and additional FREE rental occupancy for the tenant ( judges do this a lot).