On the other hand, Option 2 with the BRRRR strategy entails owning a single property outright, building long-term equity, and potentially cashing out through renovations, but it's a slower ride, relying on successful renovations and favorable refinancing options, and you're starting with just one property, which may limit your income potential.

Buildings require maintenance.

At the end of the day, it's all about steady cash flow and building equity over time. 

I do not have any recommendations in that area however I know that BP has just launched a "Find a Property Manger" tab in their Build Your Team Section.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

If you don't already qualify, the answer may be you need to save a larger down payment, look for a cheaper property, or wait a few more months to build longer credit history.Good luck and don't forget to save a beefy emergency fund!

Cash out Refi property located in Northern NJ, and hypothetical purchase mixed use or multi family apartment building located in Brooklyn most likely

Building off of what we discussed so others who are perusing the forums can also see.

Thereafter the plan would be to get teamed up with a CPA and Advisor team locally to build out the frame work in which I can maximize deductions.  

I want to build this niche to be one of my primary income generators.Already networked and known within local REI community.