I currently live in Long Island City, Queens.

Unless it is a property you intend to live at and are not looking for a return, then base your decision on what the numbers tell you.

How do I rent properties to Sober Living?

But in reality, those who are experienced in this business have a formula for picking addresses that they believe they can make money on and run at a comfort level they are comfortable with.I think that the hopeful mentee is seeking is what address should I buy to be as safe as possible and make the most money as possible.

We live on one floor and the other half is rented.

So if something ever happens and the loan goes delinquent the only recourse is the subject property, but if the delinquent property is in an LLC with let's say 4 other properties then those assets are exposed to the LLC debt holder - if that makes sense.But they will ask to see personal liquidity all the time so they can feel comfortable with the payments being able to be made for 9 months.

We are still seeing 1000 people a day enter Florida and they all need someplace to live.  

Even if you move out, you can still cashflow +As for single family or multifamily, you can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

I do free live trainings on thursday.

But generally lenders want to see the renovations outlined, costs, materials used, and specific descriptions (for example : install hardwood flooring for all bedrooms and living rooms).