Appliance manufacturers are seeking cost efficiency to preserve margins, thus parts are not lasting as long.

The structure and layout made it ideal for a modern update that would appeal to buyers seeking a fully finished, move-in ready home.How did you find this deal and how did you negotiate it?

With proper planning, it can be a very effective approach.Having a tax professional who truly understands real estate can make a big difference — especially as your portfolio expands.

The idea is not to completely ignore cash flow, but rather to seek deals for their potential for equity gains, even if that means a modest cash-on-cash return.Due to the combined forces of value-add, market appreciation, amortization, and leverage, seeking deals that build equity can generate large amounts of capital with which you can reinvest.

@Connor Long - Many people seek to get started in real estate investing as a Wholesaler - but my anecdotal impression of the success rate is that 98% of them never do a single deal.

I've lost count.https://www.msn.com/en-us/news/crime/everett-tenants-seek-an...

What type of properties are you seeking, SFR, 2-4 MF, or 5+ MF?

Given that you're near NYC, I'd imagine, there'd be a lot of newer professionals looking for a place to live so there should be no shortage.Id connect with other local investors that do rent by the room to see what they do for furnishings. 

Readers are advised to seek professional advice.

When filing jointly, if one spouse qualifies as a Real Estate Professional and materially participates, the rental activity as a whole can be treated as non-passive for the joint return.