Many other options north and south of the city depending on your preferences.  

I need to find a broker to hang my license with, I prefer a broker that has some investing experience, has fair splits, and is helpful to their agents. 

Usually not worth the hassle.The point is, we look at:the value of your assetswhat types of assetsthe number of assetswhere those assets are locatedwhat kind of real estate investing you're doingother income streamsother businesses you ownyour family situationyour long term financial and real estate investing goalsyour risk adversenessand etc.HOWEVER, let me add, that for the vast majority of investors who have a rental or two, the LLC is still the preferred entity and a great place to start.

.- There are people who prefer to invest in areas where houses resell for $100K; there are others who prefer to invest in areas where houses sell for $1M+.

Hi Dev,  thanks for the shout out.Ok ok, I coach lease option assignments, AITDs (All Inclusive Trust Deeds, sub2, private lending marketing, jv negotiations, sandwich lease options, wholesaling, retailing, wholetailing, and business scaling.I recommend my students get licensed in CA as the BRE of CA prefers that.See http://dredefenselawyer.com/california-bureau-of-r...Quote...."

But you'll still prefer to live in a huge city except during your commute.

(I have never personally installed it but have seen many employees do it with ease)It looks pretty good in rentals but I wouldn't put this in a class A property.I prefer the cherry color.

I prefer 50% of something then 100% of nothing.

I prefer to leverage more because I'm young and hope that I am around for a long time. 

This is especially important if you won't be able to save as much.If you decide this deal is too expensive for you tastes, and don't want to offend your family friend by selling the deal, consider a three way deal between yourself, the current owner, and a partner.If you pass on this deal, you might want to consider looking outside of Midtown to build some equity.