I am looking at buying a townhouse in NYC that is currently designated as an SRO with two rent stabilised tenants living on one of the floors and the other floor unit is vacant.

•Are the tax benefits of renting worth it in a situation like mine?

I wanted to share some key insights from Rentometer’s analysis of over 5 million rental searches in 2024. The findings are particularly interesting for those focused on the Columbus, Ohio market, which topped the list...

@Phillip Austin Rent by the room investing is an excellent strategy.

@Bryon Andrews was spot on in his advice too - do some Zillow and FB Marketplace surfing every few weeks to see what rents in the blocks near your property have been renting for recently, and track how those fluctuate over time for a few months.  

In my area (near the beach) its mostly families and they want cabanas, baby items, chairs, coolers etc that we do not provide but I have a local vendor that delivers and picks up these items and charges a few dollars per day for each item, and give me a 20% referral. 

He demands the rent increase to $3,200 but you refuse to pay it.

One unit is occupied by a low-income senior not on the Housing Choice Voucher program and paying well below market rent.

If the market is tough, I reduce the rent rate over the full 12-month term.

So on the rental agreement, I had wrote its a two bedroo0m house ,then on a separate agreement, I wrote one bedroom for the remaining portion  of the rent.