I have properties in the Buffalo area (a mix of long term and short term) but was looking into Syracuse also, so would be interested to hear the responses.  

If they gift it to you it's tax-free (as long as they're under the lifetime gift limit around 14 million) they may have to file a gift return though, but there won't be tax due. 

Understanding the terms, qualifications, and overall structure is crucial—after all, a loan is a loan, and knowing how to leverage it properly makes all the difference.As for Zillow, IMO, one should never use it for ARV.

Featuring stylish, modern furnishings and vibrant, fun amenities, this home is perfect for a variety of short-term rental visitors.

@Nathan Gesner Yes, I'm fairly confident if we were to hold long term, we'll do just fine. 

I've helped 6-7 different investors move money from Oregon to Wyoming in the last 15 years and they are all happy they made the move.Consider finding a market that has a better long-term outlook, economically and legally.

All I am doing is paying more on the front end and that saves me how much I need to pay on the backend. 

Large corporations are moving to the area which is very promising long-term for REI.

The planning staff should be able to walk you through any options for zoning changes or variances if there's a way to make short-term rentals work in your case.

It's a gradual, steady increase over a long period of time.