definitely make use of gov sites to help you provide more insight into areas:census data- zipskinny has some interesting stats based on census- go straight to census site for data- neighborhoodscout is another resource- local gov site may have more stats about neighborhood and demographicsschool district data- find out school districts in the area and look up related local gov website for stats- check out greatschools.com and similar sitespast sold data- the usual: connect w/a realtor- review zillow on past solds for your target property profile- trulia can provide some more insights into areas like zillow doesrental comps- check rentometer- craigslist- local realtorgoogle maps- cash for gold sites, payday sites- affluent supermarkets, restaurants- public transittake into consideration how proximity to certain retail biz or transit can be desirable or influences the local areaNY is a cramped place to evaluate neighborhood on just google map factors listed above alone... i know there are various neighborhoods and depending on what block or side of the tracks, values can go up or down.

But as a landlord I am only willing to forego the potential customer if I have something substantial to hold the unit.The other question I have is for those people that have the tenant sign the lease with only the security deposit.

If you don't mind me asking, starting so young did you have an influence in your life that pointed you in the right direction, or was it just something that always interested you?

I believe with a cash-out refinance on an investment loan, you're lucky to be able to refi up to 75% of the appraised value of the home, so you wouldn't be able to get cash for that initial 20% down unless the value of the home rises substantially.

If it's a situation where the LA can potentially influence the seller, AND your offer is strong (cash or quick close with hard money, large EMD, no contingencies), then giving the LA the opportunity to earn both sides of the commission will work to your advantage.

The scheduled rent is >2% of the purchase price.However, you could be in for a substantial renovation and I would factor that into your offer.

Bill has influenced me - I'm thinking I need to look at the larger companies around here as Bill has pointed out.

John Moore I have done a small amount of research on properties for sale in the area (still not sure of the best ways to do my research) that may have been in the path of Sandy, and from what I've seen homes are either just flat out, out of my price range, or have a substantial amount of damage that would bring them out of my price range with repairs.

Are you saying your offer price in this situation would be substantially lower knowing that you may have to come up should the backup contract slide into first position?

How long to hold any particular investment is in some ways is a personal decision influenced by what might be many personal variables.