I'm not sure about finding deals in NYC, I feel like that could be a tough market to start out in... but I'll never dismiss an idea or market without first doing my research. (2014 resolution is to minimize the assumptions!)

I have a decade background in market research and management.

I would do more research on the ARV and see if there are any other factors that may affect value.

Would it freak them out or make them stoked..I guess I gotta do more research on tenants expectations.

I have found a 5 unit property where the Seller is willing to carry a 25% 2nd mortgage. (70k purchase price, $2300/month gross income, $1300/month expenses) Initially I thought I could have the Seller 2nd cover my down payment but my research here on BP has taught me that any bank will want at least 10% from my pocket plus closing costs, if I can even get that.

After months of research and studying I decided to start my own wholesale business then eventually start purchasing my own investment properties for bigger profits.

Tell them the you just want to pay them for some research.

I am looking into more 3rd party management companies that are established and will research this.Do you invest out of state as well?

Make sure you do your research on how to screen tenants...this is going to be especially important since you and your family will be living in the same building.

If your situation is complicated or out of the norm for whatever reason, you need to research ( read up...you know, “Dummy guide to LLC” etc) or hire a lawyer.