Invest in real estate by investing Long Distance in a 50k multifamily in Kansas that will be about $200 cash flow positive/month..Pros- Be able to keep a short commute to work- Live in the heart of Manhattan while paying no rent- Low cash deposit to begin investing in property.Cons- Run the risk of my land lord not allowing AirBnBs (which could be mitigated by upfront communication)- Investing long distance for my first deal is terrifying- I won't be able to use an FHA loan on my first property.Concerns:Am I opening myself up to too much risk by signing an apartment lease and a mortgage?  

To mitigate risk, you always leave inherited tenants on month to month leases.

The bank only recently began the foreclosure process, posting a Preliminary Loss Mitigation Affidavit just last month.

What you want to do is mitigate the chances of this situation occurring. 

@Alejandro OrtizOut of state investing has its own risks and benefits but if you set up a good team (property manager, contractors, etc.) you mitigate the risks and reap the rewards.

This is especially important if you have rented the property for 14 days or less as then your rental income won’t need to be reported.”https://www.therealestatecpa.com/ultimate-guide-irs-schedule-e/From Brandon’s article this year...What’s odd with posters mentioning they are getting swatted by tax pro’s when posting about tax is that either you are asking a question that you haven’t run by a tax pro and you don’t like the answer you are getting, or you have a tax pro and are second guessing him/her on this forum and still not liking what you are getting in response... neither of which we can control.Also you have to understand we have professional and ethical responsibilities, not to mention risk mitigation.

They are RE investors that tap the banking system for financing.Here's what I've read in terms of landlord responsibility:In NY the residential landlord has no duty to mitigate its damages and may recover the full value of remaining payments owed under the lease for the entire lease term even if the landlord makes no attempt whatsoever to offset, minimize, or cover its losses.Looking for some advise. 

Is there any benefit for letting the tenant reside there until we have a contract OR would you initiate termination ASAP to mitigate any potential marketing/sale conflicts with the tenant/tenant's family?

I work in the foreclosure/loss mitigation space and see lots of sad stories everyday from people who didn't take advantage of leverage wisely.

I do have bees and some evidence termites are in the area, can these risks be mitigated?