Keep up the good work, and when you close, get it rented, ect, keep throwing up little updates on your progress posted, you will get good feed back from great people along the way and encourage other new comers.

Keep your eyes open and keep asking questions.Best of luck, please keep us posted on progress.

The house: 10 min from downtown Cleveland, near Lake Erie 2600 sq ft. 4 bed/2 bath, located on a street with 1 home rehabbed recently and another in progress, ~10 houses from train tracks (not loud) Already has updated windows, vinyl siding, half of the driveway is new, boiler replaced 3 yrs ago, newer hot water tank, roof ~5 yrs old, has a few cool stained glass windows and cove ceilings on first floor, butler's pantry, all ceilings 9.5', 2 car garage with workshop, solid foundation, finished attic, close to the city and the neighborhood is quiet for being so close to the city.

To keep BP in the loop, I will update with my progress and final numbers of what shakes out as I go a long.Wish me luck!!

When i try to see where i am in the progress i look at this chart.

I will definitely keep that in mind as my education progresses.

This sweet spot is where the seller knows recovery is slim without putting in a bunch of money and the bank will take a loss for the buyer purchasing.Buyers like this because the units are not thrashed yet just have poor management and repairs needed are long.

I want to thank everyone for an awesome web site; there is a ton of information here that is helping me learn everything I need to know to get a good start investing.I will be honest in saying that I'm having a tough time getting started, mostly because it's a scary thing to get started and my knowledge base isn't where I think it should be to make good decisions, that's why I've been doing as much reading about investing as I can before I jump in.I think I've made some good progress so far as I have a long time real estate investor in my local area that is mentoring me; I bought land from him several years ago and built a home on it.

You should know enough about RE and notes to make some progress on your own in defining your investment niches and goals.

Look forward to hearing abouit your progress in NY.