Most people don't know how to use a wood burning fireplace correctly - operating the damper, not closing the damper until the fire is completely out, going to sleep with the fire or coals still burning. 

I'll keep it fully furnished, so I can potentially charge more, especially since it’s also near a major hospital in Astoria and close to LGA.Do you think this plan is feasible?

I would like to start close to home as I plan to self manage the rental side of it.

With Risk Rating 2.0, FEMA looks at several factors to assess a property's real flood risk.Key Factors Considered- Property Location: How close the property is to water sources (rivers, lakes, coasts).- Flood Frequency: How often the area floods historically.- Types of Floods: Includes heavy rainfall, storm surges, and river overflow.- Elevation and Distance from Water: Higher and farther properties generally face lower risk.- Rebuilding Costs: Higher-value homes may have higher premiums due to more expensive repairs.What This Means for Homeowners- Fairer Premiums: Properties with lower risk may see lower premiums, while higher-risk properties may face increased costs.- Gradual Rate Increases: Increases are phased in over time for policyholders who see higher premiums, with annual caps on the rate hike.- More Predictable Rates: Rates better reflect the real risk rather than just being based on a flood zone map.Example Scenario (Simplified)- Old System: A house in a designated flood zone pays $1,000 annually, regardless of its elevation or distance from the water.- Risk Rating 2.0: That same house may now pay $1,200 if it's closer to the water and more vulnerable or $800 if it's higher up and better protected.Flood zones still matter under Risk Rating 2.0, but their role has changed. 

Thankfully, I come from a close-knit family who believed in me.That second investment turned out to be a game-changer.

Take full advantage of available tax incentives by working closely with a tax professional.

I would get a bridge loan to acquire the property if it needs to be rehabbed and/or closed quickly.

I think it is more beneficial to save for the downpayment + 6 months reserves and closing costs.

Close to the University of Virginia and a large research hospital. https://www.airbnb.ie/rooms/851008521978902877?

However, I live close-by (30 minute drive), recently retired from my day-job, and if the loan is not too large, I might be willing to do a deal just to learn a bit more about another side of RE.