The past 2 1/2 years I’ve flipped some properties and have wholesaled some.

Also, while it won't cashflow right away, rental rates will continue to rise and in 3-4 years it will very likely be a cash-flowing property (it's in a prime location with tons of upside and development going on around it). 

They can take time with their search and be more selective about a property’s location and condition.

My neighbor did STR on 2 properties in Long Beach, but only allowed 30+ day rentals so that he did not have to register with the city.

@Juan PerezCongratulations on paying off your first home and transitioning it into an investment property!

I did look to see that in Jersey City people must apply online rather than in person, and there is a page with “What I can do with my residential property?”  

On the flip side, I am in the process of acquiring over $1.5M in defaulted DSCR loans form borrowers who are your age that put 25% down but had no money to fix any of the problems  = lost the renters and walked from the property.

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.

For co-living spaces, it’s important to confirm that lenders are comfortable with the unique rental model, as it can impact property valuation.

This property is currently listed for sale for $245k.