Challenges?

As a California resident with NY source income, you will need to file a New York non-resident return.Don't forget to calculate the step up in basis from inheritance. 

The housing market in Syracuse is also expected to keep growing, with both property values and sales activity likely to go up.There is a lot of challenges and chances in the current situation, which includes more foreclosures and a competitive housing market in places like Syracuse.

If you could provide a general overview or a step-by-step guide at a very high level—focusing on vacancy rates, capital reserve expenses, expense ratios, and any other crucial details—it would be greatly appreciated.

Hey Barbara, starting with an FHA loan for your first multi-unit property is a good choice but converting it to a commercial loan later may be challenging.

Even then, OOS REI will come with some significant challenges...Specifically, one of the MANY reasons OOS REI is so difficult (esp. for beginners) is that it requires you to assemble, manage, and incentivize a team of people you'll be completely reliant on from hundreds of miles away (sometimes without even meeting those people face to face).

If you skip this step, the Note is only worth the paper it is written on.

Great terms, no down, long amort, stepped up basis later. 

Hello everyone,I have been looking to get into real estate for sometime and finally want to take the next step and secure my first property.

Challenges?