If your plan is to rent these places out, as long as the numbers add up and you can get tenants in there relatively quick, all you'll need is that down payment to get started! 

Lastly, you need to immediately and forever remove the payment of attorney legal fees to the prevailing party from your lease.

However, the good news is since you've owned the property for over a year it will be considered a long-term capital gain which holds a much lower tax rate than if you owned it for less than a year.  

The other lesson I learned is that the right fit for me in this investing process is to long term hold the properties I purchase, rather than flip them, unless market conditions are so good that flipping makes sense.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm relying on appreciation of the house to make up for it in the long-term.

My apartment building is stabilized under the J-51 program which is an incentive for landlords to update older buildings as long as the keep the rents stabilized for a certain number of years.

Friends of ours moved out of their long term residence, a high end condo in Aventura, FL. 

I was wondering if buying a long term rental property with tenants already in place in a market that is up 20% yoy is a good investement or not. the rough numbers ive been running seem to have a decent cap rate but the house is about 15k more than the zipcode average. 

We are looking to grow our flipping business this year as well get into holding properties as our long term wealth strategy.

I have a tenant that is refusing to pay the last two months of rent.