Seem you may need to hire a property manager in New York.

Try interviewing at least three managers.1.

Are you implying that I should maintain two separate bank accounts - one for holding security deposit and the other for rental management expenses?

Conduct thorough due diligence, including property inspections and financial analysis, to ensure it aligns with your investment goals.Property Management: Since you'll be living in one unit and renting out the other, familiarize yourself with basic property management practices.

Hi Igor,I'm with Sunnon Property Management and we work with real estate investors that want to rent out their home and we also do all rehab work. 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

I will not be conducting any business in MA just collecting checks as I will have a property manager managing the property in NY.

The numbers and business plan more than adequately support the project numbers (can share privately). 

I moved here from Florida after seeing the projected growth. 

I'm leaning towards long-term rentals (LTR) but am also eager to dive into fix-and-flip projects to generate quick capital.I'm deeply committed to achieving financial freedom through passive income, and I believe real estate is the perfect avenue to reach this goal.