As someone new to NYC, I'd appreciate insights on:The current state of the UES market in this price rangeWhether buying makes financial sense for a 3-year timeline versus rentingThe pros and cons of co-ops versus condos in the neighborhoodI'm particularly interested in hearing from those with experience in the area, as I'm looking to make an informed decision.

If you have a mortgage the lender will require you to have insurance that protects the asset that secures the loan3.

That sounds like someone who has been going in the wrong direction financially for whatever reason.

Balance Sheet shows all Assets, Liability, and Equity.

You’ve got a sizable asset with stable tenants, but the monthly overhead is making it feel heavier than it should.

Accelerated depreciation, taxable income forecasts, and running various numbers/scenarios.Point is that tax planning/financial planning is not the area to skimp.   

Most lenders sell their loans out.Nobody wants a loan where the asset is underwater every month.The real question is, why is a property worth over $1M only producing $4,000/mo.You should consider raising rents as this seems significantly below market.

I'm glad I said I had to talk it over with my financial advisors. :) 

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

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend 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?