Good evening @Ling Chen,Out of state investing gives you higher cap rates and better COC returns than NYC.

There are also many more passive investments which would pay more than your current return (>= 4.4%), like real estate funds, syndications, mortgage lending, even treasury bonds are paying more right now.

If any of the "Big Five" systems (HVAC, plumbing, roof, electrical, water heater) haven't been updated recently, they still should be budgeted, even if you expense them later.Also, if you're primarily buying for cash flow, then this seems like a whole lot of work for just 7.75% CoCR!

Anyone in our current market willing to talk via message or even meet up? 

So that means that even though the front house is more than 15 years old the rent control requirements still won't apply to the back house that is less than 15 years old, right? 

If you can make more money by focusing on building your Property Management business than if you spent the same hours in a rental property...spend the time where you are going to make more money, even if it does mean a higher tax bill.8) Go talk to someone who can spend the time getting to know what is going on with you and provide some customized advice. 

Even if yuo do get a home in that fashion, just realize you are immediately over leveraged and underwater in most instances on that property. 

Since I've been wholesaling I've just used forms out of books I've read or templets from random web sites, and i feel like I'm about to transition to buy and holds or even brrrs, so i feel better put together paperwork would be better.

Sometimes, there are even settlements where the parties agree to split the baby and draw a new property line in between. 

So if you can show that the rents will cover the mortgage and then some (most want around 1.2 debt coverage ratio at least) you may be able to get financing even on your current salary.