But I do believe the houses hold their appraisals better there.Horseheads is the cream of the crop in Chemung county. 

By the way, from what I read in the Wall Street Journal, there’s a growing number of niche investors cropping up who love grabbing assignments that fly under the mainstream radar, especially if you’re bringing something fresh to the table like a distressed duplex they can reposition, or a small portfolio of row homes they can turn into long-term rentals.

Although those guys had brick and mortar and where very good at what they did ( screwing people)this new crop are just hiding behind social media and their key board. 

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

The more rentals you have the more risk there is to having a bad situation crop up.

Even small-scale operations like beekeeping, organic farming, or growing specialty crops (e.g., lavender, hemp, etc.) can generate income.Hunting Leases: If the land has good wildlife, you could lease it to hunters during the appropriate seasons.

Plus look for a handy person to take care of any maintenance issues that crop up.You will need to look at each and every room with a critical eye of a guest and not the owner.

Either payout wasn’t right , horrible tenant selections ( I started requiring them to bring me the cream of the crop and I decide)  I tried 2  different pMs.

You might hit a few bumps in the road...tenants who imagine due dates are more like suggestions, or unexpected repairs that crop up at the worst possible moment...but that’s part of the ride.

Fortunately for the Gurus there is always a new crop of wannabe investors who can easily be separated from their money by selling hope.