Any guidance is appreciated and I know it's not tax nor financial advice, just your thoughts.

As you might already know, house prices in New York are extremely high, which makes it financially difficult for me to try house hacking here at the moment.

Whether or not you believe there will be drastic changes, we are already seeing increasing weather events with unusual patterns like the hurricane that whipped through Central (Inland) Florida in 2024.

Buyers usually want to purchase on today’s value while sellers often want to use future potential of the property (“current rents are below market” or “room to build an additional property”, etc) to increase the purchase price or likelihood of a sale.

I would underwrite buyers based on stability of income, financial payment history & ability to pay.

Hello Michael,I echo Jon, completing a 1031 of a single rental into DSTs in straightforward however we typically recommend a portfolio of DSTs for diversification and financial objective purposes.

Therefore, your financial freedom hinges on new companies continuously moving into the city, creating replacement jobs.Companies have many options when selecting a location to set up operations.

Long term interest rates should continue to increase.  

& how you become financially free is by letting whoever your renting to (I'm guessing that was a step also?)

@Amir PortalRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?