I am looking to buy 2-4 family buildings in 2 areas close to NYC.I'm looking for an "intelligent" thought process as to which area is a better investment.I'm usually a long term investor who buys and holds unless there is a crazy market like before but I don't expect that anytime soon.Area 12 Family is 200k.Taxes 3kRent $1900 (950x2)Travel time to NYC is 35 minutes and you need to take 2 trains. ($4.00 each way)This area is a rough area that was getting better and now is quiet.I had a few buildings here and sold all but one in 2008 because prices went up so much so fast so I took the profit.I can get good tenants but I have to show the unit 10-15x.

I've traveled through upstate NY and to Texas a few years ago on my motorcycle, but I wasn't scoping any areas out for REI.

MAYBE for collections/delinquencies only, the manager could get involved, or, my wife and myself can handle those ones if they are within local travelling distance.By the way, how does one set up the ability to autodraft a rent payment?

I travel to Mexico a lot as well as have two "opportunity agents" on the ground.

It sounds like you have absolutely no money, so how are you going to travel to the park and inspect it?

I don't have to worry about additional Waste Management Fees, gas and travel time back and forth to the WM.

How far out you will base apartment rents will be if you are in a urban core,suburban,or rural location.The more compact the less people will travel to move from apartment complex to complex.Suburban and rural you will need a bigger ring radius for evaluation.If there have been a bunch of foreclosures for apartments or you see foreclosure notices or upon looking at tax records see many sales at lower values then you have to be very cautious as to rent values.Those properties bought at a lower value the new owners will drop below market rents to fill fast for cash flow.If they have a much lower debt service than you will on purchasing it can kill your rental business.I have seen this happen in a few markets."

Travel expenses related to the management of income-producing property are certainly deductible.

You probably have administrative costs such as office supplies, office expense, postage, travel related to finding more work, costs related to analyzing deals, etc.

Howdy, I'm traveling for work, and would love to meet an established investor or two (or more) somewhere in Houston after 6pm on Thursday 4/19, if anyone would care to let me pick your brain.