So wouldn't that make your cash flow for the first 2 properties the sum of the rent minus HOA, taxes, and %for cap expenses and vacancies?

It's not too expensive. 

Sure, Mahopac is expensive, but so what?

Much easier (but more expensive). 

Your vacancy expense could be quite significant and consume all of your profit and even get into your principal.

I'm going to be transferring to northern California in a year so I was hoping to begin working right away in order to supplement my living expenses while I move onto a university.

But, if your tenant becomes hostile and files a complaint, you will be under their supervision and have to pay licensed, expensive, repairmen.

The property is worth 210k and I owe about 140k on it.I have another 80k saved up and would like to put about 60k towards my next property (leaving 20k for emergency funds, rehabs, personal fund etc.)I have zero debt (no student loans, no car payment) outside of the HELOC I had to purchase the first property I stated above and most of my living expenses are paid by my employer (car, gas, cell phone).I am based out of Central Pennsylvania and am looking to stay somewhat locally for my first few properties (Harrisburg, Camp Hill, Lancaster, Hershey etc.) and am not really interested in out of state investing.Just looking for some advice or input on what you would do next if you were in my situation,Any input and info would be greatly appreciated, Thanks!

Appraisals on commercial property cost between $2,500 and $3,000 so I do not want to spend that kind of money if the appraiser is going to check my tax return and see a huge list of expenses and vacancies because of the construction.Any help would be greatly appreciated.Ramsey

A moving expense.