Quote from @Christine Gordon: Quote from @Roi Azoulay: This firm is known to advertise fake distressed properties all over NY and reach out the the actual owner w/attempt to get listing agreement, Unfortunately they are still active and keep doing this for many years and no other website/mls does anything about it. 

I agree that pricing a rental too high is a classic mistake than can make it sit, but don't you think encouraging landlords to rent quick will make them compromise on the vetting of the tenants?

As others have said, the settlement that was reached in 2024 requires this contract for an agent to show you a house. 

A duplex could be a great compromise that lets you start small, build equity, and learn the ropes while mitigating some of the financial risks.

We compromised on the desing as well as the tenant. 

My current plan is make a conservative offer, pending financing so that I can get those 8 and have enough cash flow to pay my HELOC while not compromising the flip.

A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. 

Federal programs will require you to use GC/licensed folks for a lot of the work and they will get reimbursed by the institution that your loan is with; many GCs don't want to wait on the float time of requesting funds and getting them.Depending on the program and rehab/condition of the home, you may not be required to live in the home (think black mold remediation...bank isn't going to put you in a compromised position) however they may have min/max of when you need to move in.

I'd go for the best location, ideally, but without a strong compromise on your funds.

People need to be realistic about what they can afford and be willing to compromise (ie maybe they need to move to a less expensive area).