The benefit to this option, however, is that you are able to hold the property in an LLC orCorp and you will not be limited by your personal DTI. 

I have used him for over 5 yrs and was actually recommended by a nearby HOA President. 

@Omar Fernandez - you can start by reaching out to some attorneys, NYC is an attorney city so you'll have to get an attorney involved (who usually orders the title search). 

I could get the same or higher overall ROI by putting my money in an index fund which is 100% passive.Deal #2This seems like a good deal to me at the asking price.

I did the right thing by asking for the security deposit and first month of rent before handing the keys.For the next two months, she has been a nightmare.

I think your biggest issue with any "work-arounds" is going to be your legal liability and holding the proper insurance in case something goes wrong, which I'm going to assume you'd need to be properly licensed in order to be properly covered by insurance.

Originally posted by @Lynnette E.

Comparing just those two things, you would save way more money in the long run by avoiding the annual mortgage interest.

If they do not respond, then they do not get access, and their belongings are legally "abandoned" by them.

The second reward is that you add value to the community by renovating eyesores.