Well, we don't really need an Economics101 lecture about why the more extreme examples, LA and NY, are much more expensive than most of the rest of the country, right?

That piece of information is extremely important when analyzing a deal, so you better have more than just a hunch.Best wishes.

I know the population is extremely dense and the housing prices are insane but is the rental demand relatively steady?

That is extremely helpful thank you so much!

Either way, get in touch with a lender - you may find that you won't qualify for an FHA loan without at least 1 year of employment history to back the income.In my opinion, you are extremely smart to be thinking this way already, and are thinking in a way that is likely to set you up for life at an early age.

Maybe the requirements are different in each state/locality - however - the inspection requirements are extremely minimal in my county.

It's on a street that's full of cookie cutter duplexes, so it's extremely easy to comp.

Not always some will sell prehab but those deals usually come with bonus equity to mitigate the lack of revenue at close.there is two schools of thought on this and I have seen this be very successful as well .. but more caution is needed on the company you do this with they need to be very good and reputable of course.Other course of action is to simply buy off the MLS and do the work for yourself.. this is an extreme challenge from afar...

Have 1-3 buying strategies to your arsenal so that you can make deal with your own or others peoples money.1) Wholesale by assigning contract2) Seller Carry for cash flow3) Subject to existing financingAlso what is extremely critical is to learn how to manage rental properties if you intend to be a buy & holder.Best of luck

There is an extreme amount of great information here on the site!