Pat Hey Pratik- those are definitely the going cap rates around here lol. 8% is probably like, pro-forma cap for a gutjob in Del Paso Heights too haha.

Is the South Brooklyn, for instance, Bay Ridge/Dyker Heights/Bensonhurst even Sunset Park profitable areas in the 2016 and moving forward?

I understand that there are many other factors regarding due diligence, like seeing the property, inspections, records, to take into consideration, but I am not sure if there are other calculations I should be doing to make a decision or if all I need from a numbers perspective is in the calculators.

If you have an LLC and PROPERTY is in the LLC name and the MORTGAGE is guaranteed by you personally, but in name of LLC, you have considerable liability protection for torts related to the LLC Property (at least in many states).

John Cushing Suffolk County doesn't issue permits for basement apartments (Nassau as well).You can apply for them but I don't know anyone that has managed to get them approved.If you see a basement apartment it's illegal.People lose their homes when they get caught and can't pay the fines but also can't afford the house without the rent roll.There are ceilings height issues, NYS fire code issues, egress issues with windows and separate exit, CO issues, etc.If you want rent roll, buy a duplex or a house with a legal accessory apartment.

Open to anywhere, South Tampa seems way too expensive I am looking in Seminole Heights, Ybor, Riverside Heights etc 5.

The job actually starts when the contract is signed and consideration is received . thats when the contractor is putting out money special ordering materials etc.  

A contract has to have offer, acceptance AND consideration (Among other things).

Not having as much luck with 10 unit, really nicely updated units by previous owner at 2435 Noble Rd in Cleveland Heights, a few blocks away from Monticello and 3255 Warrensville Center Rd.

Being a landlord can be cumbersome and overwhelming and if done poorly can cost you a considerable amount of money.