With the looming debt crisis, land is very undesirable for banks.

It is very rare for a mortgage company to miss out on protecting their first lien position by redeeming the unpaid taxes.That's why the tax deed sales are usually a waste of everyone's time - the good stuff is almost always redeemed and by the end of the auction, only the tax deeds secured by undesirable properties are left standing.

But borrowers die, they become incapacitated and others may end up standing in their place to wind up business, so from the lending side, it would not be wise, IMO, to simply have a usurus note.State law should be investigated with peripheral laws as well, references to usury within any state may include tax law, commerce and other secured lending requirements where they may become applicable.

The buyer is stuck with paying $6,000 in taxes for basically a shell in a undesirable neighborhood with very little demand.

I'd love to read stories on syndicated investments that didn't go as investors had hoped or otherwise led to undesirable outcomes.

It's the combo of the base and prison support staff community that make one of the most beautiful areas undesirable to the millennials.

Realistically, to buy a detached property with a basement suite that is in somewhat decent condition, and not in an undesirable part of the city, you're looking at a price point starting in the low 500s (520K-ish and upwards of $650K for turnkey renovated older properties with legal suites).

Your expenses are going to be basically fixed, and the only way rents are (probably) going to decrease in the greater NYC area is due to a lot of new supply, or some big economic event/natural catastrophe/terrorism etc. that makes living in or around NYC suddenly undesirable.

There is software you can get to determine square footage, number of residents, etc and bill each one individually but then you're paying the bill and a month later you're billing the tenant but keeping it separate from rent and it's a real pain plus this is very undesirable to tenants.

House hacking in California with 100K budget in a more undesirable area maybe your best bet if you decided to invest in California.