As a newer investor, you can take the proceeds of your NOI to reinvest, and continue to grow your operations.But.....If this was the only method there would be no successful RE investors in Los Angeles, San Francisco and New York; which obviously isn't true.

A friend is looking to purchase a vacant lot for around 10k however it has over 150k worth of liens City of NMB code enforcement (the liens   were placed on a bulk of lots since the previous owner never kept up the lots).From what we read in the title report the actual liens pertaining to the property is only around 6k however the "bulk" lien placed on all vacant lots is around 150k.Anyone ever deal with this before?

An investor typically isn't willing to sit on a vacant property until the next leasing season begins.Is it in a city that has a strong seasonal force?

Additionally, if you are looking at multiple areas, you can definitely work with different agents as they may not be well versed in every area (even within the same city).

Keep in mind  Jacksonville is a different scale of magnitude than other cities.   5,980 Roof  2,350 Siding repair2,950 Ext paint 350 Screen replacement 180 Window screen600 Hot water heater 500 Appliances used 135 lights 450 Bathroom repair2340 floor 1800 floor 1300 carpet in bedroom 375 electric150 smoke detectors350 Ceiling repair 250 Touch up paint 200 Misc caulk 100 sink 125 garage fix 375 plumbing repair 175 Window    21,315 total 

I am targeting  Jersey City, Union City and West New York.

It's one of those "least nice properties in a nice area" situations; I'd be looking at holding the property over the long term and there is ample new, high-quality construction occurring in the neighborhood, which is situated in the heart of the most desirable downtown area in my city.

I'm primarily interested in BRRR  these days but I'm just generally wondering how my fellow Canadian investors are making a buck.I'm planning a trip to Montreal, Ottawa, and Edmonton in the near future to see what sort of prospects exist in those cities.

@Calus , Do you know what city in Texas it is in? 

I am getting a short-term lease while I get to know the city and save up some money.