It isn't common, but electric heat in NYC is starting to pop up more and more.It ain't cheap.  

I've heard 8% annualized is common but I guess it all depends.I also can acquire hard money loans but want to limit that if I can and just use private money and personal capital.Any advice is appreciated?

The episode it called, "Turnkey Real Estate Investing Explained".There I explain what those terms mean, common pitfalls investors make, and a 5-point system to help you compare turnkey providers.

Adverse possession laws differ by state, but there are some commonalities in AP in that they take years, and typically have a requirement of prescriptive use and payment of property taxes over whatever number of years.

That is a common and dangerous trap to fall into.Good luck and we'll see you around BP.Vincent

Professionally I am a therapist, but my interest for that field has faded long ago and now I am ready invest my time into my passion and interest in real estate.I have a lot of great information regarding real estate investing and I would love to hear some recommendations on where some one should start or shouldn't start, based on your own experiences or just from trial and error. 

I have a feeling we have a few common connections. 

However, a common "formula" is, assuming you want at least the same amount of money that you're making from your job, once you have enough passive income to equal or exceed that then you can quit your job.

We commonly structure partnerships with foreign investors, like @Anthony He mentioned, you can definitely structure this in a way to avoid withholdings and any major complications. 

As of now, I do not know what is a good deal or how to calculate repairs or ARV but i believe it will come in time.Through trial and error, i notice what is working and what is not.