Using 50% rule (expenses excluding P&i is 50% of rent) here are the numbers;1800 (rent) - $900 (expenses) - 1468 (heloc) = negative $568/monthAt your rent point with that size unit, your expenses will ve less than depicted by the 50% rule, so let’s use a likely more accurate 40%1800 - 720 (expenses) - 1468 = negative $388/monthNow let’s imagine you self manage and you time is not worth anything (I strongly recommend believing your time is worth less or worth less than a quality PM would charge) with 8% further reduction so expenses are down to 32%1800 - 576 (expenses) - 1468 = negative $244/month. 

In both cases I settled with the homeowner to avoid aggravation, lost time, and expensive lawyers.

Run a credit check, which will include her address history and the dates she lived at each one. 

February 5th will be the next one! 

It's time to run the numbers to determine the cash-flow.

Since you're open to markets beyond NYC, you might want to connect with local investor meetups or REI groups in those areas to build relationships with agents, wholesalers, and lenders who understand the nuances of each market.If you're looking to break out of analysis paralysis, maybe start by narrowing down one or two target markets and running numbers on actual deals.

Purchase price: $325,000 Cash invested: $50,000 This time I acquired a property that needed little to no work.

Yes, the government pays the Section 8 rent timely, but more and more tenants are having to pay a portion of their rent.

Thank you for taking the time to type all of this out and break it down for me.

But, we at the same time made the experience of finding meetups on our website way worse with an update a few years back.