If you have an LLC, I would even suggest putting your investment property under your LLC.

Conventional loans to purchase (1-4 unit) investment properties don't require a personal financial statement. 

The other good news is you ca use the rents of the other units as income to qualify so you can essentially qualify for a higher home price.That sets up your next investment property as you move out its now a 2-4 unit with multiple doors bringing in more income. 

I have not been keeping up with what areas are gentrifying or on the verge of gentrifying but if I was to invest in NYC the first areas I would like at were the locations that are either right on the verge or are changing. 

Lateefah, Yes, I'm a realtor here in the Emerald Coast, specializing in vacation rentals and investment properties. 

I live there and invest and in my opinion the cities investment, constant development and growth are showing dividends for investors.

My passion lies in real estate investment, and I am currently working on becoming a successful real estate investor in the Halifax/HRM area.Growing up, I was fortunate enough to learn the ins and outs of the real estate industry from my father, who owned and managed 65 units.

I know condos might not be the best investment, but I'd rather own something in the city than keep paying rising rent. 

Make sure you also attend some local investing meetups.

While it could have strained cash flow and impacted real estate investment if enacted, there's no immediate need to worry, as this proposal is not expected to become law.