Even with a good umbrella policy, how is that good enough protection?

Raj If it is is good enough deal someone will buy it.The hard part is finding (or negotiating) that deal.

And you need to have a good enough relationship with the tenant to make sure he understands that he HAS to have the place in presentable condition.Sorry, I know it's not what you wanted to hear.all cash

[/list:u]I think some of my problem is fear and I always feel like whatever I do is not good enough.. which keeps me trying to get better but can also hold me back mentally...

Find a deal with a LTV ratio good enough to cover the down payment, ask the seller to pay some of closing and there you go.....I see you are in Hoboken and I hear there are some expensive properties up there...have you done an analysis of a radius within 30 miles of Hoboken to see if there are cheaper properties in those areas?

BELIEVE ME, if you have a good enough deal they'll want in on it.

I'm more interested in holding out and renting out a property than I am flipping one, but if I did find one for a good enough deal and managed to get rid of it fairly quickly, what are the taxes like?

Income stays the same.Income: $2,245Expenses: $1,122.50Mortgage: $605.51Income: $516.99Still good enough to go for it?

With these methods, you are actually buying the properties, although you could wholesale them too if the deal is good enough.

If this is good enough for you, then for this property you will REQUIRE an 8.9% cap rate.