Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

I've lost count of the number of RAD investors who posted in the BiggerPockets forums about their "hard money loans" and then having their distributions "frozen".

This is the most unique real estate investor club, education, networking and mastermind event in the US!

I saw a post for a new investor moving to Phoenix, and I thought making a post myself would be a good way to connect with the community here. 

@David KanarekI see you just started posting here on the site 2 days ago and so far strictly the posts about Norada notes.  

Since the HELOC was used for a business use (renovating the rental) you can deduct the loan interest against that rental using the interest tracing rules found in §1.163-10T. 

Quote from @Braeden Warg: The right way to do it is to contact the city and ask them.

Up posting this post.  

The downside far outweighs the upside.

I will die on the hill that the 70% Rule is flawed.