I live in the city and have toyed with the idea of moving back to LI.

So if the previous owner had a lease with them for ten years at $1 per month you are in for a long haul.

I wanna win.He who dies with the most toys, wins.

I hope all goes well.Question on the down payment-I have 10% right now, but if I sold one of my cars (I teach auto shop and have many projects and toys) I could easily raise the other 10% and then some.

Now I am self insure myself.. so in oregon I if the home is abandoned i simply go in and haul every thing to the dump...

Degrees in both Finance and Accounting as well.Owned a multi-family trash hauling service business and sold it a few months agoWork in the engineering field for government contracting for fueling systems for the Navy as a Project ManagerAcquired my 3, 4, and 5 properties this year and am on track to double it next year.I guess, like everyone else on here, my situation is all over the place :)

No doubt - this is an investment that I hope will appreciate, and I am preparing myself for the long haul.

I also wish that I could swing a sledge hammer and haul demo to the dumpster as swiftly as my contractor.  

Over the long haul, cash flow, depreciation, and amortization is small compared to the wealth creation that is built on appreciation of real estate. 

I only know of a couple of states where this is defined as brokering but there will likely be more soon as several state realtor associations are lobbying hard for the change so if your in this for the long haul you may want to consider getting a real estate license.