Quote from @Agatha Simmons: Uffda.One of the biggest mistakes landlords make is failing to stand up to a problematic tenant.

Also, when you say you cleared $550k in revenue, where did that put you for your net profit?

You’re trying to ruin the biggest benefit of the life in flip. 

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

NYC laws around rentals—especially short- to mid-term—can be tricky, so you’ll want to avoid any compliance headaches.The biggest challenge with this plan is finding a rent-stabilized apartment that makes financial sense and actually gives you breathing room.

Securing financing is often one of the biggest challenges new real estate investors face.

Biggest lesson I learned in this experience is to tell EVERYONE what you are doing/trying to do.

I do airbnb in all my rental arbitrage, they are the biggest player in the STR market.   

Mexicos second largest revenue source are wired funds from the U.S. by individuals.  

@Matt Wanyes but... is that actually your biggest concern?