The risk is very high when you are brand spanking new and you will definitely need to go through some transactions to get an idea of what you are doing. 

That's exactly what I figured the sentiment regarding investing in Jacksonville (or anywhere in Florida for that matter) might be.These days, I'm definitely wishing I would've gotten started investing earlier. 

Though the USAA representative couldn't really give a definitive answer on every coverage element Prosper notes, the general response was "why wouldn't that item be covered?"

I definitely would not be building one at todays prices with 10 - 20% down right now.  

(I am currently staying at another similar home in the neighborhood where the owner has done something similar)My main questions for the forum are:Zoning and Legal Considerations: Does anyone have experience with the zoning laws in Union City, NJ, especially regarding converting single-family homes into multi-unit rentals?

National and local economic factors can definitely impact real estate. 

I can definitely tell you there's still a lot of positive cash flowing and 1% rule deals and you get amazing appreciation.

Definitely a hefty price tag but if you can get something maybe on mission hill, you could easily rent it out to students forever.

Everything. 2) Make sure you have a signed contract that is legal and thorough. 3) keep the progress payments relatively equal to the work being done....example - don't pay for tile when you're still doing framing.Go get some bids and then come back and talk to us again... 

I will definitely take your advice.