But still, within a few weeks you should have someone applying who is qualified from my experience - which is in Florida, not New York… but all things being equal demand works similarly.If marketed correctly now, it tends to point to price sensitivity (too expensive) relative to other similar offerings,  or some other detractor as to location or convenience.   

Naturally, your relinquished property/properties must sell before you can take title to the new ones but at least it keeps distance between those time frames.

And then I applied some leverage knowing that if they did not want to move forward that I would find another interested Buyer who was clearly ok without having the Certificate and knowing it was always used as a 2 family. 

I do not want to fully apply for anything at this beginning phase since I have more research to do, so hoping I can get some help here. 

Capital gains tax applies when you sell an asset for more than its adjusted basis, not when you borrow against it.

If accepted, I have my inspector inspect the property and provide me a report on the state of all systems and structural. then I use this report to build my scope of work and know what repairs need to be made. then I type out this list and solicit bids from 2-3 contractors/GCs/ handymen depending on the nature of the rehab.

So if you've got some market rate tenants applying and Section 8 tenants applying pick the one you like the most.

This aligns with the other responses in the thread, as passive activity losses (PAL) rules govern how these losses are applied across your rental portfolio.

Filled with natural lighting, this single story home features 2 bedrooms and 1 bathroom.

Putting an offer on a house in Virginia Beach and my buyers will likely be applying through United which is listed as the mortgage company.