Since you're aiming to purchase a multi-family property in Long Island, especially with the help of a capital partner, it’s crucial to run the numbers carefully (rental income vs expenses) to ensure you’re set up for success. 

Yeah if you choose more security over less work, then having multiple accounts seems to be the way to go. 

This structure helps ensure that if one property faces a lawsuit, the other properties and their income streams are protected.

Does it have to come from an Attorney or is that simply the best way to ensure Notice was given and to minimize issues if Foreclosure is necessary? 

Ensure contractors have solid referrals from other investors and join local real estate investment associations for networking.

They should know the process super well and have their own contacts with leaders and managers to be able to ensure things run smoothly.There is a weekly open-office time for residents to be able to sit down with their case manager (I think it's Weds, but I haven't seen the time printed out recently so it may have changed.

Financed by securing debt on a different asset in our portfolio where we could get the best terms given the rising rate environment.

That property has tenants which would cover the monthly payments at its current rent which is well below market value but the property would need love to justify an increase in rent.Very grateful to have made this much progress in the span of less than a year and a half and currently just trying to make sure I have all of my ducks in a row to ensure I can build these three properties into a stable few investments.Looking forward to the future,Austin

Have a conversation with your property management company well in advance of any transition to ensure you are fully aware of all terms and conditions.

With the sale leaseback ensuring income immediately, plus your plan to generate additional NOI through the storage yard or expansion, the numbers look strong.