Some general feedback on your list:Copy of Collateral File - mortgage/deed of trust, note, modifications, forbearance, title policy, assignment chain (if not recorded)Copy of Credit File - Origination documents - includes 1003, disclosures, credit reports and HUD - these are not always present in institutional files, their absence does not negative your enforcement capacity.Copy of Servicing File - payment history, servicing notes, etcCopy of Legal File - foreclosure, bankruptcy (if present)Property value through a BPO or similar report will be your responsibility.

Even if the net costs is negative, after adding up the true cost, you should compare that to what rent would have cost you.

It is solidly negative.

From what I saw on some flip episodes it can be a big negative.

I must say, that I was tempted to get in RE for the last 30 years, but was reluctant to get into multi-year negative cash situation.

I would like to hear some opinions and statistics about using Real Estate Options.

I under estimated the negative aspect and had to drop the price so low, the net result was a small $2500 loss.

The fact is, the better educated you are the more you will make, statistically speaking.

Finally make sure you have enough life insurance that your house enterprise won't negatively impact someone

I am personally negative on Manhattan longterm, as I think many aspects that made NY the center of US cultural mindset being competed/globalized away due to Internet.