If you are actively building your portfolio, might as well take the dive now and learn the system.

I’d just check who has what attaches currently, the ones not active currently I’d remove and I’d have all tenants sign a clause stating that nothing will be attached to the roof or building and there is a (XXX.xx) dollar charge if there is a violation.  

I looked into Keystone CPA, which seems to be active on BP, but I haven’t been able to get a return call from them and also, it seems they are pricey.

BP seems to have a very active and engaging community.

Brokers will never send their 'fresh' stuff to someone unless they know they're an active buyer in that market. 

@Stefanos Axios I haven't been in the market for nearly as long as @Anthony Thompson or @Frank Patalano but we have been very active the last three years and from all the historical and current data we've seen, it's not a good time to get in unless you've somehow stumbled onto a screaming deal. 

I think there's pros and cons to both, but to be clear in other scenario I want to lead or be actively involved in finding and managing the deal so I can begin to build up that muscle.

As sch C income is "active" trade or business income and falls into a separate bucket, you would not generally be able to offset sch C income with your Sch E losses.The passive actively loss rules generally do not apply to real estate professionals.

FYI, Bushwick, Brooklyn NY is a very active rental market with increasing diversity of population ethnically and socioeconomically

You have Repairs listed at 20% so if you are essentially saying vacancy and repairs are 10% each that is fine.If you're getting $1,300/mo on a place you're paying $50,000 for that is good......UNLESS it's in a D or F Neighborhood, in which case the cashflow can look great, but in reality be horrible because of constant tenant turnover and unreliable tenant activities.