That gives me a nice buffer.The house I would be buying is 3500+ Sq ft just about one block away from a college.

Hi all,I have a single family home I purchased in June 2021 for 200k.Aside from cleaning up the yard, painting, and new water heater there have been no improvements.I recently got a letter that my taxes are going up as they believe the property to be worth 225k as of June 2022. 

See attached Invoice.Through this letter, I hereby request proof that I am indeed the party you are asking to pay this alleged debt, and for proof that there is a binding contractual obligation to pay this alleged debt.

What I found when I made contact was that they had already received phone calls or letters from 20 other investors.

In NYC, there's what is called a Letter of No Harassment which must be on record from tenants since often the owner wants to kick out inhabitants to renovate and boost rent and their profit.

The pre qual letter looked like this:PP:225,000LTV:80%Loan Type: DSCR 30 yr fixed 7.12 interest 0 pointsFICO:815

So I’ve since blocked off the third floor on one side and rented it as a 1 BR for now. but when the other side leaves eventually I’m starting to lean towards raising the ground grade 28” so that the total drop is less than 20’and then I’ll knock down some walls and make the whole 3rd floor attached only to that last unit so that the whole area can use the stairs and that window as second egress. 

Haha Hey @Jacob Pereira Sorry to get your hopes up - I spoke without thinking in my excitement to talk about 1031s and skipped over a crucial stumbling block for your dream strategy ;) Allow me to clarify:So, if you live in one side of the duplex for two years within the five years prior to the sale, then it is considered residence use.

Purchase price: $88,000 Cash invested: $44,811 Sale price: $190,000 1 bed 1 bath 3rd floor walk-up just a block from the lake in Roger's Park.

The annual nature of tax benefits.One of the fundamental building blocks of our tax system is its annual focus.