I am currently a 21 yr old civil engineering student who is graduating in May.

Long Term, 1.5 hour or less commuting distance from NYC.My goal is to replace/multiply my current income with REI income.Bigger Pockets:I found BP website on search engine whileresearching/evaluating rentals in NewYork.

Another approach would be to get a civil engineer to look at the site with you as they are familiar with most costs involved in sub-division and may be best suited to answer  your question.

He is also a structural engineer.

It wouldn't scare me off, but depending on the amount of cash I was risking with the purchase, I might have a structural engineer friend have a look, or pay one if I didn't have a friend that was a competent friend.1800s homes are going to have a couple bricks out of place and some repairs done over the years.

Otherwise, have a team of a responsive and fast moving title agent, surveyor, engineer, environmental team, lenders (brokers definitely help shop deals faster than you would and have relationships to push things through that we couldn't necessarily get done as quickly) and lawyers to get your due diligence, lease review, title review, etc. done fast.

I heard about it from a good friend who I frequently chat with about real estate investment and both of our goals for our futures.A little on my background: I obtained my B.S. in Civil and Environmental Engineering from the University of Virginia in 2009 and have worked in project management in the construction industry ever since.  

@Scott Graham Welcome.Congrads, once I figured every discipline Engineer was getting more than me as an Architect I went into Mechanical (HVAC).Lot of meetings around, ours of course are the best!

If you hold beyond these time frames, the compounded impact is exponential.Some investors combine cost segregation with bonus depreciation and they don't pay taxes for many years, they reinvest those savings and drive their after-tax returns up.The tax code is designed to stimulate commerce and this treatment gets investors to transact (which generates income for brokers, inspectors, appraisers, agents, title companies, attorneys, contractors, engineers, regulators...the list goes on).

A good firm will hAve all engineering cal done and engineers on staff.