Exposed wire are a safety hazard and if they where missed by inspection  you may be able to complain as well.

Frankly, no matter how well you do safety, dumb guests will find some way to hurt themselves so insurance is a top priority.

Head over to bank rate or and take a look at the mortgage calculators, plug in the numbers and get an idea of what the property needs to generate to satisfy the intended debt.You still have to underwrite the deal for the non-finance expenses as well(typically 40-50% of the gross rents). 

Hey Tony,Well right now I'm back in Toronto.

As well as financial statements.

That being said if you need 20 different LLCs to sleep well at night then do it if you can afford it, but look at the really big players. 

@Jon Taylor explained it l well.  

Imagine you only do 1/3rd as well as they did.

Rents continue to climb as well but likely not enough to keep up with increasing monthly mortgage payments when considering interest rates and soaring property values.There are 2 main schools of thought when considering investing in an expensive market like Long Island.- Robert Kiyosaki, Grant Cardone, and similar thinkers believe its best to invest in markets with higher cashflow while renting where you want to live.

@Cosmo DePintoThe BRRRR is alive and well.