Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

My dilemma has been that I've gotten a little behind on some revolving debt that selling this property now could eliminate in addition to giving me cash on hand to trade into some better value or start a new construction duplex project I've been wanting to start.

Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.

@Samuel Coronado - cash flow on new builds here right now is fairly non-existant without putting more than 20% down. 

Do you get energized by throwing your stack of cash on black and seeing what lady luck has for ya? 

Yea the area doesn't look like it will appreciate much, I mainly look for cash flow.  

Purchase price: $75,000 Cash invested: $10,000 Sale price: $120,000 This is a 2 bedroom 1 bathroom single family detached house is South Georgia.

I agree, start local and see if you can find anything that cash flows in your area—it's always easier to manage something close by when you're just starting out.

I purchased three out of state "cash flow" rentals with Evernest.