The first factor to consider is Proposition 19, which will trigger a reassessment of property taxes if the home is transferred to either of your father-in-law’s daughters.

So, I think you have a risk factor in upstate New York that you don't get in most other areas (it's not where most people would choose to live).I think upstate New York one of the few areas in the country you can cash flow in B areas with 80% downpayment, so that's nice--in terms of deals, I think the numbers still work out at market prices.Finally, the property taxes are very high in upstate New York. 

As we continue to stabilize supply chains, seasonal and historical patterns can provide insights for executing your next project, ensuring you factor in risk and stay within budget.Question: What are your thoughts on adjusting to the "new normal", how will investors manage increasing costs with many forecasting stagnant appreciation for the coming years?

A lower loan to value will be a factor in getting a better rate versus a higher loan to value.

Permitting does take quite some time but you should factor this into your underwriting.

The answer to your question probably depends on other lifestyle factors, and your goals with your real estate portfolio.

"Subject" to other factors that is where you wantto either buy or build first.

as far as cost that depends on too many factors to cover! 

Keep in mind that those who take the buyout will get 8 months of income, so I don't see that as being a factor in the next 12 months for them. 

All of these come back to one important factor, you need to bring value to the table while mitigating risk.