Base your renovations on that instead of what is on HGTV or in the IKEA catalog.Over renovating for rentals is very easy to do.Renters like nice houses, but don't put as much stock in it as buyers do.  

If you aren't at least beating the stock market, the reward isn't worth the risk.4.

What kind if return are you predicting?

I predict  there will be a lot more seller financing opportunities on NYC multi families in 2016.   

I tend to look at real estate investing the same way as I look at investing in stocks.  

More food for thought... we only know what will happen today..... interest rates may be higher in the spring or the stock market could take a bigger hit.  

Life happens just like stocks go up and down.

The midatlantic does not have the stock of multifamily housing that you find in the northeast.

So does it make sense to put all 400k on that house which is what would be required to get a house in that price range based on income, or do I just accept that I can't afford a house here and put all that 400k in stocks/bonds and keep saving until I can afford something?

I have enough experience in investing in stock market and I am looking to diversify my income streams.Since I am just getting started, I would like to initially partner with someone to get exposure rather than jumping with both feet.