@Matt T. thanks!  

I am looking to use my money to be a lender to an investor/real estate agent whom has a project to be started.I just received the contract and it seems pretty straight forward, but i want to make sure and double check i got my T's crossed and I's dotted. 

@Larry T. thank you for your response and advise.

I'm still deciding what to do about them, but these floors are fir, not hardwood, the paint is likely lead-based, and the painted floor (in the bedrooms) fits the house's style.  

I kinda agree with @Larry T. there is presently a storefront vacant building right at the corner of where i leave, the store is rented out but the apartment is vacant and it has been like that for at least 2yrs.You also need to be wary of the location, correct me if i am wrong but buildings were there are apartments and stores are technically in D, E locations which could have a lot of issues. this is based on my drive and stay in Rochester NY.Your located in NYC, i think you could take a day or weekend off to come down here and check the neighborhood out.

my rule, others may say otherwise but I'm not in the volume game, real estate is my current Business, and I prefer quality over quantity.....just fits my style best.

The LL/T laws are in favor of LLs.

T

Assessors determine your property taxes.Your appraisal is based on similar styled and sized homes sold within the last 3-6 months (12 months max) within a 1/2 mile to 1 mile radius, and with similar amenities and lot size.

I don;t know the facts, since I don't know the details to the deal.  1.