I was also reading that you have to physically be at the address 6 months out of that year?

Umbrellla insurance beats an LLC in many cases.Our properties are in LLCs, held by our Trust.

In 2024, 2-4 family properties in Nassau have been sold nearly two weeks faster than they were selling last year.Further indicating a hot market, median sale prices have increased by 11%, which is more than any of NYC’s boroughs.The top area choices for 2-4 unit multifamily investors have been:Valley Stream & Port Washington: 14 deals, respectivelyLong Beach: 11 dealsLynbrook: 9 dealsSuffolk CountyLike the Bronx, Suffolk, too, saw a 43% increase in 2-4 family inventory.

Rates will come down faster than MBA/NAR are currently forecasting. 10Y treasuries are comming down, but also the risk-premium spread to 30Y fixed will normalize as the perceived risk of a housing market crash is shrinking.

For house hacking I’d maybe start at the more pricier markets or fringe markets where you can get something beat up, fix and flip and sell for higher.

A typical turnover can be a month or 2 of vacancy and $2-10k in make-ready costs (cleaning, paint, flooring, appliances, towel racks, vanities, etc. that gets beat up and broken norma wear and tear). 

You need to beat that 10/1/24 deadline before the laws change, and not a good way for you.

BRRR's are meant to replenish most or all of the money you put into a deal so you can buy more faster

The filings cost more and the process is a little slower than 35 days, but much faster than 6 months and far more consistent.

And having them talk directly with your contractors trying to beat them down will drag things out and probably cause you to lose vendors..