Can not give you precise information about these topics as I am from Holland but currently working & investing in Barcelona.

I'm Ryan and as the title says I live in NY, in the burbs about 20 minutes outside New York City to be more precise.

This still seems magical to me, as no one has been able to give a clear precise method of making these decisions.

Just a heads up that you should be very precise about comps, streets, zip codes, school districts, etc.

I have a feeling you're leaving out a few major ones in your calculations.To your question on how to value a property: any formulaic way of computing value is going to be inaccurate, as even the most precise require inputs that are a little bit of guesswork (such as prevailing cap-rate for your product type in that neighborhood.)There are some often "rules of thumb" that people use, which are usually used to pass the initial "smell test", but as you will see, will only give you ballpark accuracy.In roughly increasing accuracy and precision:1) Price-Per-Door: see what other multi-family units have sold at, and divide by the number of units.

I should have made a more precise statement...I would not purchase a property in the Irving ISD.  

But as @Darren Sager said, it's worth it not to have the tenants calling me about the heat, since I'd have to call PSE&G anyway.We installed a new furnace in our other Trenton property and used Precision Air in Trenton.

@Paul RumoloIt looks like you already got some solid advice.First you need to determine if your rental activities will increase your taxable income.If they will increase your taxable income - you may be required to make additional estimated taxes to the IRS/States.You can do so by making quarterly estimated payments or ask other sources that already withhold on your behalf to withhold more.For example - if you work for an employer and they withhold $500 for ever $2000 that you make; you can ask them to withhold $600 instead of $500.Obviously - It may be hard to calculate by yourself - you may want to reach out to an accountant for a more precise answer based on your specific scenario.

Of those who have an Operating Agreement, most don't follow it precisely which negates the value of an LLC anyway.

We need to be precise with our terms.