In expensive markets like New York area, this is the most cost effective way to get into properties and ideally reduce your housing expenses. 

Always ask your Creative Finance Mentor if they have ever been sued, what happened and how much it cost. If they say they haven't been sued, they are either too new for you to follow or they are not telling you the tr...

Perhaps you are intending this clause to cover temporary events, like the city shutting off the water to repair a main, etc.?

If you don't like the idea of giving up control, being an active investor might be better for you. 

Quote from @Benjamin Furney: Hello, I was wondering what renters typically like.

I am generally finding negative cash flow, or very little, like $50/month.

While you save for your next deal, focus on treating your current property like a business for tax purposes by tracking every deductible expense such as repairs, utilities, supplies, insurance, mortgage interest, and depreciation to legally reduce your taxable income and build strong records.

The macroeconomics here are really strong—population growth, job growth, and major companies like Intel, Amazon, Google, Facebook, Microsoft, Honda, LG, and more investing heavily.

When you are new, looking for lenders & considering Fix & Flip, BRRRR, or rental, as a buyer, I’d ask the owner/seller to be one of my private lenders with creative financing. This works in Southern California...

Unlike 1031's there is no need for the 45 day Identification Period. 5) Unlike 1031's you don't have the rules of like-kind exchanges. 6) With 1031's at some point a piper has to be paid.