Thoughtful upgrades and efficient project management made this a successful venture, highlighting the strength of our partnership and commitment to delivering high-quality results.

You still claim the income as miscellaneous income and deduct property taxes and mortgage interest (subject to SALT and other high mortgage limitations) on your Schedule A, but that's it.2. 

I talk to so many people who regret not getting a PM up front because they are having problems or high eviction rates doing it alone.

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

If this $30k was instead invested in a taxable brokerage account, you'd pay capital gains taxes on the $70k of growth and be left with a tax bill as high as $14k.

Especially in a high interest rate environment where cash flows on long term rentals are muted and there is significant capital required to purchase and list on airbnb.I live near NYC but would invest out of state in an airbnb / landlord friendly state.

Bigger Pockets also vets lenders a bit before allowing them to participate in the Bigger Pockets Find A Lender tool so they've already done some of the due diligence for you. 

With today's high interest rates, it usually doesn't make sense.

I have used the same contractor for a few projects, so I'm getting a break on my price but 140k, seems to me, very much on the high side.

Years ago it was finding quality tenants.