I mostly agree with Huong, but in specific cases, a small negative cash flow is not the end of the world.

From my experience, attending local meetups, lending-specific events, and networking with experienced investors can open doors.

For us, the only time we pay contractors upfront is when it is for really specific jobs like full HVAC and full Electrical jobs, and these are somewhat large companies with vans and trucks, so we know that these guys aren't running anywhere with our $3k upfront payment. 

I noticed that Chase and Bank of America charge fees for wires unless you meet specific criteria.

I have a few friends who is very pro Ohio (Akron and Columbus specifically), but i ventured elsewhere.

I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

While I haven’t invested in NYC specifically, I can share a bit of perspective: For a 3-year timeline, buying can make sense if you’re confident in the market’s appreciation and can find a condo with flexibility for renting it out later.

Are there specific advantages or potential pitfalls I should consider when structuring these activities through my LLC?

.- Plan: eliminate AMT - Alternative Minimum Tax.

For anyone considering this, it’s probably worth consulting with a local land-use attorney or planner to navigate the specifics and make sure you’re maximizing the opportunity without running into red tape.