Quote from @Lee Banks: Hi my name is Lee I'm looking too buy my first rental property and but I feel as if I need a mentor to watch, I still need to learn the basics of real-estate does anyone in New York do programs or mentorships and where would you start if you first started real-estate today  Hello Lee,I'd recommend looking up local meetups here on BP, meetup.com and, eventbrite.You can also call around to speak with RE investors and professionals in your target market to begin making connections.With so much available information online, I'd recommend speaking to a few people and doing independent research before committing to mentorships.

The structure also allows for mitigated tenant and maintenance risk, but it has increased dependence on market movements due to being appreciation based.

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.

Another option is to estimate value based on potential income and market cap rates, which can give you an investor’s perspective.

In my day job I do SEO for a digital marketing agency and I am more than happy to talk SEO with anyone who has questions.I'm interested in Long-term rentals, though admittedly, finding deals below market value and funding those deals (not to mention I honestly have no idea have to put the deals under contract in the first place), are problem the first things I'll need to learn.

The Memphis market is THAT big?

Loan sizing varies by market, but in most areas your loan will be sized to 75-80% LTV; 1.20-1.25x DCR; 30-year amortization.

I am convinced because listings sites pick markets they think make them more money to advertise.

For example,  if no one else bids on the property or it stays on the market longer than the bid window and they do not accept an offer?

I'd guess the real number is closer to $30k, since we bought it slightly under market and did some minor work like changed all the appliances.