I have a job that provides me a good salary and I want to invest my spare time building wealth through real estate.I want my first property to be near my home on the Upper West Side of Manhattan or my summer home on Shelter Island on the east end of Long Island.I’ve drilled deep on Ridgewood Queens.

There can be some land mines like what Barry mentioned lurking deep in your deal you don't know about yet.

If the state requires a title in hand to sell or rent a home -- and you can't get one -- you might be able to do an abandoned property auction in some states to cleanse the title and create a new one, and in other states you may simply have to demolish the home and replace it.

I also would need to line some deep pocket investors as I can find the deals but would not want to leverage my huge lines of credit like I used to.

How deep is the market for investors who will buy leased townhomes (new const.) for the cash flow only? 

If you're questioning this strongly and this deep into the process whether or not you need a lawyer, you 100% do.

So, I find that even 10% is too high for the vacancy rate, but better to be safe than sorry.I try to stay away from properties with HOA's because they fine you for things like a 2 inch weed on your sidewalk and the fees cut deep into your profits.

I'm not really sure about the deep details.

I want to be able to look at a deal based on the presented figures and be able to tell if it makes sense doing a deep analysis.

Deep south it will be easier to cash flow.