Hi Bigger Pocket community ,I’m seeking feedback on a 6-family property I’ve underwritten in New York .

You may want to consider seeking a property manager and legal assistance.

We are cash poor and cannot afford much good land outright, but could seek spec loans if needed. 

Since I haven't secured accommodation yet, I'm seeking another female attendee to share a room with.

This is doing you no favors, and an absolute wrong way to approach it.Get an idea of what you're seeking, then research those cities yourself. 

The key factor is ensuring the property qualifies for favorable tax treatment by adhering to IRS rules regarding short-term rentals and material participation.For the 7-day rule, the IRS requires that:The average guest stay must be seven days or less for the property to qualify as a short-term rental.If the average stay is 30 days or less, you must provide substantial services similar to what hotels offer, such as daily cleaning or concierge services.Regarding material participation, to further classify the income as non-passive, you must meet one of the following criteria:You spend more than 500 hours actively managing the rental in a year.You manage the business yourself and spend at least 100 hours, with your involvement exceeding that of any other person involved in the rental.Please note there are actually 7 ways to qualify, the above two are the most common.

This trend will continue as distressed assets in sectors like multifamily seek capital injections to avoid foreclosure or unfavorable sales.Mezzanine debt, typically subordinate to senior debt, offers higher returns to compensate for the increased risk.

We’ve never had to seek a payout, so cannot speak to that.

They could have come in with the moving boxes, which is the most likely culprit, but they could have snuck in some other way.My lease says I will deliver the home pest-free and handle any pest treatment for the first two weeks in case we miss something.

I'm seeking advice on the best way to implement this fairly and effectively.Here are a few options I've considered:Submetering: Installing individual water meters for each unit could be a solution, allowing each tenant to be billed based on their usage.