It was a fun realization so I thought I'd share it here.I purchased my first real rental 11 years ago off the MLS for 108k (put 20% down).

You'll get pretty good depreciation when it comes time to do the taxes.

All the best to you during your last semester.Househacking is one of the most common routes for new investors in NY.For best returns, I'd recommend focusing on South and Southeast Queens, Central and Southeast Brooklyn, and the Bronx.There are parts of the suburbs (Westchester and Long Island) that have househack opportunities but the property taxes are higher and the commute time to NYC is longer.Abel

You may be better off with a higher rate and the flexibility to access the equity in that property to grow your business or even bail you out of a jam.

I have great clientele with repeat customers and wonderful word of mouth which keeps me busy enough to fill my summers and time off during the school year. 

It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

You are free to build whatever you want, sell the house once is finished, and the lien-holder (original seller) is paid off through title when the new house sells.

This should put in writing what the fees will be.What is your maximum LTC and LTV?

you'll probably still need something long term like software as others have suggested but this was a thought i had... you could see the actual profit or loss from a tax perspective for each property.