@Cathy Ries Yes, tax planning before acquiring rental properties is highly beneficial, especially given your situation.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Instead of discussing the possibility of owner finance with sellers - what if I offered the opportunity to  JV where they are the equity partner?   

One thing to consider is whether a two-family twproperty might provide better cash flow than a condo, especially with NYC’s high costs.

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.Ahh I see, thanks for clearing that up.  

Yes, it's crucial to get the right structure in place—setting up an LLC in the state where you're operating can offer liability protection.

Hi Srikanth, I’ve been investing in Cleveland neighborhoods with a similar focus, targeting properties that align with appreciation potential while attracting quality tenants.

I have found my first multi-unit property that I am going to make an offer on. 

There's a post right above mine from a lender... there's always a lender offering $$$ even when people can't afford it. 

They had listed it for $40k more in 8/24 and dropped consistently until 12/24, when I made my offer.