Some of the laws in NY changed recently and you are required to obtain a certificate of no harassment, No permits will be issued until it is resolved.You will need to work with the current tenants for this certificate to be approved which can take up to a year or more, Definitely something big to consider.  

Commit one crime and get charged with breaking 10 different laws.

Division enforces the law, they aren't the P.C. police.

STRs sound like too much work to me.Portfolio income = stock dividends, interest income (from banks, credit union etc), Master Limited Partnerships (Form K-1), Business Development Companies (Form 1099), bonds, interest earned from investing in a real estate debt fund, interest earned from being a private lenderAsking why our tax laws are written a certain way is not going to lessen your tax burden.

Chris is spot on here, the new law is going to be in effect from Friday first of November.

Love that idea and I'll feed that in to the Seller. sometimes you have to fight fire with fire and I’m not 100% familiar with New York laws, but I’m pretty sure they have squatters rights therefore, the other squatter wouldn’t be able to do a thing about it.

You need to consult your local laws to see what the legal amount of time is and decide for yourself if that's "reasonable."

But with this new law in place , is there even a benefit for month to month lease since I cannot do much anyway in terms of getting the tenant to move out.

Happy tenants are more likely to renew leases, reducing turnover costs and vacancies.Legal Compliance: Property managers ensure compliance with local, state, and federal laws, including regulations on rent control, fair housing, tenant rights, and eviction procedures.

There are items required by law and in general those are related to the safety and basic comfort of living.