On the 4th time I hit the ball and closed the deal and I paid $50,000 in legal fees (success has a cost too - LOL).And that does not factor in the many hundreds of hours that I spent on studying markets, talking to people, making offers, doing due diligence, etc.If it were as easy as what the gurus say, real estate investing won't be as profitable.

If your out of the country and a complete newbie I would suggest do as much reading and studying about real estate as possible.When I got interested in real estate over 17 years ago I began to look for more knowledge and it helped a ton.

With that in mind, I suggest digging deeper by studying the neighborhoods within the city to identify the areas with the most opportunity!

And pre lim studies etc can easily run 50k.  

Over the past few months I’ve been studying and researching to learn as much a so can about real estate investing.

When studying my MBA in finance, leverage was discussed ad nauseum. 

Especially, one that is CPA that specializes in real estate taxes and knows how to perform "cost segregation studies."

Most of the houses in Providence are 100+ years old and do require attention to keep in good condition.If you plan to manage from NY I would suggest getting professional management unless you confident your son would be able to handle the management alongside his studies. 

I've been studying a lot about real estate over the last year and now that I'm here I'm finally able to start looking for deals and meeting people. 

I am also working while studying to get my brokers license.What should I do?