Here are some code excerpts:31-17-1 (M) "Primary mortgage loan" means any loan primarily for personal, family or household use that is secured by a mortgage, deed of trust or other equivalent consensual security interest on a dwelling as defined in Section 103(w) of the Truth in Lending Act or residential real estate upon which is constructed or intended to be constructed a dwelling;31-17-8(M)(4)(4) Require the borrower to pay, in addition to any periodic interest, combined fees, compensation or points of any kind to the lender and broker to arrange, originate, evaluate, maintain or service a loan secured by any encumbrance on residential property that exceed, in the aggregate, six percent of the loan amount financed, including any yield spread premium paid by the lender to the broker: Provided, That reasonable closing costs, as defined in section one hundred two, article one, chapter forty-six-a of this code, payable to unrelated third parties may not be included within this limitation: Provided, however, That no yield spread premium is permitted for any loan for which the annual percentage rate exceeds eighteen percent per year on the unpaid balance of the amount financed: Provided further, That if no yield spread premium is charged, the aggregate of fees, compensation or points can be no greater than five percent of the loan amount financed.

My basic underwriting percentages (vacancy, repairs, CapEx, management) are from analyzing hundreds and hundreds of deals.

You want to run the numbers on hundreds of deals until you get the process in your bones.At your age, it's going to be nearly impossible to get a mortgage on your own.

Evaluate hundreds of properties and continue to make offers.. ask as many questions as you can about deals that are rejected.As far as house hacking In NY... yes it’s more difficult than other States but I believe anything is possible.

Although this is my first property and I still am so new there are a few things I have learned while starting the process.1) If your gut is telling you no, just walk away2) Good Real Estate Agents and Mortgage Brokers are your single greatest resource for everything while you are new3) Have your Mortgage broker explain all of the fees associated with opening escrow, inspections, appraisals, etc. so you don't get blindsided by a couple hundred/thousand dollars worth of fees/earnest money that you were ignorant toOther than that, I'm stoked for you brother.

My property is located in NYS so a $5k to $10K reduction in tax assessment would result in a several hundred dollar reduction in my property taxes.

“For years, Amanda has been my personal CPA, helping me save hundreds of thousands of dollars.

My homes have appreciated hundreds of thousands in a few years in SD (I've 1031 upgraded my personal residence a few times) but at no point could I have ever rented it out and made money unless I had put down massive down payment.

You'd have that upfront cost of a couple hundred bucks but it could save you a ton in the long run.I hope that helps.

They cost a few hundred dollars, mostly to cover the manpower to evict.