It seems to me like that's my best bet if I plan on having many properties in Virginia.Alex Day, I would absolutely appreciate keeping one another in mind to see if we can get something done in the future.

Profits from short-term flips will be taxed similar to ordinary income, so you might be giving a good size chunk of the profits to Uncle Sam each year.

If you install, I wouldn't give access to tenants to monitor, We had outdoor cameras at a big complex I managed, people knew how to skirt them and was only the stupid ones that were actually occasionally caught, we had one in the pool area and that we used alot to monitor the swim area where it made sense.But they get wise, they rip the cameras out, or bust them up.I couldn't really see a reason for your size property,, I actually think it would make new tenants wonder why you would need them, as if the area was a WATCH ZONE..

Would East Palo Alto a good bet?

I bet you will be buying a house in no time once you start working with a lender that is able to offer a variety of loan products and outline the steps you need to take.

If this was my project and you told me you weren't "using your insurance", and balked at filling out a w9 on what appears to be a job of significant size, I'd probably bail and try to get my deposit back as well.

If that's the case, then when a contract is signed, your attorney or title company would submit the contract info here to be recorded for public/government record keeping,  essentially making the transaction legal and binding in the eyes of Uncle Sam.I could totally be wrong, as I'm not familiar with NYC RE, but if I were a betting man I'd say this is probably pretty close.

Your best bet to acquire rentals with a low down is seller financing with old landlords who want out of fixing toilets.

Karen, I would bet that the capital improvements are going to raise the fair market value of the property by as much as, and probably more than, they are going to increase the basis.  

If you want to be in the rental market for students, it is ok, but the competition will be higher because the size.