Rent stabilized and rent controlled tenants may apply to DHCR to have an order issued reducing their rent obligation to $1 to maintain a possessory interest in the apartment until it become habitable again."

By empowering individuals, fostering open communication, and maintaining a culture of trust and accountability, they create a power team that can navigate challenges and achieve lasting success.

In contrast, a repair would be a smaller fix that maintains the roof’s current condition and is deductible in the same year. 

It is very crucial to have someone who knows real estate, not just rentals to help maintain the books. 

Document Valuables: Maintain detailed inventories with photos.3.

@Stepan Fedetskiy section 8 can be good option if you have a good PM who maintains the property in good shape all the time as per the needed standards. best part is govt pays a portion of the rents so you dont have to chase tenants, downside the upkeep of the unit will eat up appx 20%. so its little tricky..sounds good on paper but when you go through one you will get an idea. i had 4-5 section 8's , 3 of them had no issues, but 1 of them had lot of issues and ate up all the profits.  

By maintaining a close relationship with the seller and using clear, effective negotiation strategies, we were able to close the deal at a price that set us up for a fast, profitable flip.

Some properties will require different rehabbing than others, but we will stick as closely as possible to the system we have in place for ALL properties.TEAMS AND SYSTEMS In time, our team will grow to consist of the following: Agent/Broker CPA Lawyer Escrow Officer/Title Rep Insurance Agent Property Manager Handyman Private Lenders/Equity Partners ContractorsWe will follow the same rehab plan for all properties, as closely as we can, in order to streamline all decisions and maintain the desired budgets for each property.EXIT STRATEGIES AND BACKUP PLANS Our foremost exit strategy will be to sell the property once it has been rehabbed.

For what you are planning, both of those diagrams have a huge amount of entity structure that will need to be maintained.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.