I am preparing myself to buy my second property (currently house hacking), but my local market is extremely expensive.

Expect a foreclosure suit from the lender.....extremely doubtful the debtor is trying to reaffirm/keep this debt.

@Yoni RamrasThe inspection by the lender is done for value, not to make sure the permitted work is satisfied.  

For condos you'll be easily over 200k, the only ones in the Bronx that I know of that are any less are Parkchester and maintenance is extremely high.Now as for a 2 family, I always would go this route first.

Why are some agents extremely successful while some others just aren't?

Thank you so much @Kevin Siedlecki This information is extremely helpful!

I am extremely new at all this.

@Eric Hernandez I suggest you speak with a mortgage broker such as Lou Browning at Summit South Mortgage or Gary Strum at Mortgage Investors - both are extremely experienced in what is necessary to purchase your first rental property - because I do believe, FHA requires you sign and certify you will be using the home as your primary residence.

I used to feel bad about him working so hard but now I've just accepted that he's certainly willing to stay and pay the late fee.One of the issues with working with someone who has spent a lot of time in prison (and I have seen this with my partners own brother who has been in prison 3 times) is that there are folks who do extremely well in a controlled environment (prison, the military) when someone else is telling them what to do but do absolutely lousy on their own.   

  $500 buyers side commissions are extremely rare.Second...