That does not mean they are not out there on the west cIast it’s just going to be a much different return on investment compared to say the Midwest and the appreciatIon factor wIll be hIgher In hot markets .

@Jason DiClemente - what about closing coats and any rehab expenses prior to renting the property for the first time?  

I am unsure as of now about taking a HELOC to invest and think I would prefer to get my feet wet prior to the HELOC, unless this is advised against.

Hi All,I'm a new real estate investor who's been trying to aggressively network with out of state parties (realtors, property managers, lendors, etc) for making a potential purchase.Due to distance, I'm worried out-of-state investors aren't always top of mind or receive pocket listings compared to local buyers or investors.

If you give them a gift card as an apology for not taking care of the known pump issue prior to their moving in, that's another matter.

If there have been 1031s completed in that past.In both events it's a matter of looking at your property's value compared to the adjusted cost basis. 

Based on the prices I can find on Zillow/realtor.com, the numbers seem to come out better for me with a 3x2 condo, considering that I can actually afford a 20% down payment on a condo compared to a 5% FHA I'd have to take out for a multifamily.

Granted you're from NJ and your property could be a local one ( = more on the expensive side), but I would explore the alternatives prior to setting your course on syndicating this deal.Best!

Just because you don't make as rent doesn't mean the costs are not comparable.

The assessments in NJ are as of October 1 the year prior, so if anything, even a sale wouldn't have any impact until the following October.