It is nearly impossible to follow NYC's requirements and run a proper housing business.

Just know them going in so that you can properly budget.

Review what happened and determine why each item was above or below your expectations so that you can properly plan for next year.Review your prior year goals.Did you buy all of the properties you set out to purchase?

Make sure you have properly served the notice and you have "Proof of Service" properly filled out. 

Place these footings strategically after you have jacked the house up to proper level.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊Please send us any feedback via email, as we do not use the DM feature here.

Insurance is going to protect you financially from lawsuits, damages, total losses, and other scenarios we can't even begin to imagine until it actually happens.You'll want to have a broker you can work with and trust that will make sure you're properly protected in the event of a loss.

Hey Victor,In case you do need to make this into real property, you will need a "affidavit of affixture for manufactured home".

Our main goal is to ensure we’re properly protected.Additionally, should we allow pets in our STR?