I would prefer to work with someone local but do you have someone out in NYC that you recommend?

Few BP mates recommended the longest term is preferable over the rates, since the tenant is paying it which I agree as well.

. ($2000 x 6 months= $12k,)Try save up to 10% gross of my pay check after the $2k budget is met then put the rest into debt reduction.Find somebody I can work with/for in Real Estate Investing to learn hands on and observe their methods.Use the 10% gross savings to invest in a property.Get free of all debt but business and eventually be able to go all cash as it makes sense.Establish at least 3 other streams of income (preferably 5) so we are not reliant on my commissions to meet the budget.

There are always things we cannot control and we prefer to have budgeted for them. 

Not be my first preference.

Credit is my preferred option in this case.

However, I would prefer not to lose my life savings and retirement funds because of one incident...with that being siad, is the thought of everything being taken from me if I don't have a separate entity just a beginners myth?

Davon,I guess it depends on many variables that you didn't provide, such as how much the late fee is, and whether you want her to continue her tenancy or prefer to get someone else in.  

That said, I am tempted to experiment what it's like actually living in another area, either to eliminate or to reinforce my preference for the east.

And No multifamily. 4) rent ratio above 1.3% 5) ultimate goal is to net $200 minimum off each property/month regardless of purchase price and rents. 6) we try for good schools but it's hard in the c class properties.7) we also consider the crime rates in the area. 8) we prefer already rented if through a turnkey company. 9) we try not to buy more than 1 home in the same area.