@Elizabeth Ashantiva we have a lot of properties in mpls and the rents in parts a mpls are dropping quickly.

I am in this for the long haul and I understand that your network is one of the most important pieces to help attain any REI goals.Any who, I hope this finds you well.

Just wanted to caution you to confirm that is an attainable loan.

@Jack B.Hey Jack, it’s awesome you’re so willing to help others attain their goals.My question is about loans.

Due to backlog of evictions, I'd rather keep her another year, give her ample time to find a new place, then in a year I can update the house and turn it into a nicer rental property which is the goal in the first place. 2.

My end goal is monthly cashflow, the smaller homes are more attainable for me right now, but It would be a pretty big set back to buy a house and not be able to rent it out.

I have ample people that would co-sign on a house for me to get another one but I'd like to take out a business loan instead as there are more write off potentials then a personal mortgage.

I also know that the lower prices to be found in NY have a lot to do with there being older buildings, higher property taxes, tougher neighborhoods, less appreciation, etc. which I know I will need to incorporate into deal analysis accordingly and understand the risk of.Summary: I feel that with having to put 20% down (FHA loan house-hacking is pretty much out of the question in NYC due to the astronomical prices here), buying a property in New York may be more attainable with my current savings and would allow me easier access to visit the property, however I don't think I could afford the quality of property I would like (close-ish to turnkey) in Florida.

But I mean I know there are $150k properties out there in the Midwest and I believe $200k to $250k properties are also attainable with all factors considered - imagine with 3.5% down payment through FHA loan, you only put down $8k to $8500k. 

In back of the home is a ground-level deck with an outside kitchen and ample built-in storage and parking for 6 or more.