I doubt the police are gonna come hall you away for looking after your neighbor's property but I'd consult the proper people before moving forward.

Once I was even flat out told I would be a distraction a liability. 13 years later my heart still explodes every time I get the chance to make something work properly or make it more beautiful. 

My understanding is the insurance requirement is only part of the company must be properly capitalized.

This can be caused if you don't have proper waterproofing on the foundation or if there is no sump for the water to drain. 

I'd have crashed the car if I actually started taking proper notes.

@Randy E.

He really took the time to explain strategies and help me set the proper expectations. 

Hello.My name is Terry.I live in Brooklyn NY.My main field is E-commerce - online sales.Recently I became very interested in Real Estate investment.I do have 200k just sitting in my bank account and I want to invest them asap.But unfortunately for me I do have very little experince in real estate.So I would appreciate any suggestions on where to start and what is the best way for newbie like me.

If it does change, what are the best practices, calculations/ number, and strategies to follow and ensure all debts are paid and the property properly cashflows? 

While you did not mention how many bedrooms or baths each unit is, so I cannot properly speak to the approximate rent, I am confident that it would not be near as high as 3500 a month.