Instead, it could impact your cost basis in the property, which would affect depreciation and future tax calculations.

I haven’t received the quote back for this place yet, but other similar properties we offered on were in the $4k/year range for insurance.

There’s always a way to make it happen.Would love to hear more about what kinds of properties you’re targeting and what numbers you’re seeing.Best of luck!

Ive been asked numerous times by folks if I could act as their GC for build-to-rent/build-to-sell properties.- How would this work from a lending perspective?

If $100-$120 aligns with similar properties, then it’s a fair rate—especially considering the size of the home and the work involved.

All the best to you during your last semester.Househacking is one of the most common routes for new investors in NY.For best returns, I'd recommend focusing on South and Southeast Queens, Central and Southeast Brooklyn, and the Bronx.There are parts of the suburbs (Westchester and Long Island) that have househack opportunities but the property taxes are higher and the commute time to NYC is longer.Abel

If you're lucky enough to get a free and clear property where the seller is willing to finance, this reduces much of the risk associated with seller-finance.I would make sure the title is then moved over to your name, especially since there is not a risk of a due-on-sale clause being triggered.

As @James Carlson said, there are a lot of legacy unpermitted "improvements" to properties in the area.

It is hard to really keep up with those kinds of trends unless I budget 10k a year in updating the property which I am not going to do.I participate in our local council/mayor meetings.

How should I buy a property?