I had to edit the report 6 or 7 times; playing around with the numbers and learning how properly enter all the data.A realtor that I met on BP (don't know if I should name drop here) advised me that the ARV would be about 130K and that it would rent for about $1,100. 70% of 130,000 is 91,000.

Brand new investor from NJ with a lot of varying interests. 

I have learned a tremendous amount by attending events when I can, learning and gaining confidence from people that are playing the game at a level I can aspire to.

I have played around in my head and on paper different rules and guidelines to follow if I would actually have someone renting out a room, but Im kind of lost on how exactly I would out that in a contract?

Kind of like if you were a quarterback and you had to audible in the middle of a snap count, in order to read the defense and call the play to match what they were giving you. 

You can play around with the job aspect, if you are willing to look for new job to save money on taxes. 

Can somebody explain to me how the investor can play things safe when taking out commercial loans?

@Yuvaraj Vimawala,We had a similar situation, in mid-May, when it was like 90+ the AC unit went out... except ours was brand new, and apparently it was just a bad condenser coil... and the part had to be special ordered, and then the HVAC company (which charged us $140 to diagnose it, and everyone else was charging at least $100 to even look at it) said they couldn't fix it until the very end of June.     

The safe play for me is probably to just buy an Investment property in Buffalo (I already have a good relationship with a PM here who would be a great resource for me), but for some reason my heart is in Ellicottville - the idea of being able to use a property as a vacation getaway for a week or two a year and then rent it out the remainder of the year sounds super appealing.

A brand new ford F 350 4 door dually , diesel , king ranch .