.)✅ Return all keys, garage remotes, and access cards✅ Provide a forwarding address for the security deposit refundLandlord/Property Manager Responsibilities✅ Conduct a pre-move-out inspection (optional)✅ Take photos/videos of the property’s condition✅ Verify all keys, garage remotes, and access cards are returned✅ Check for unpaid rent, utilities, or damages beyond normal wear and tear✅ Hire a cleaning service (if needed)✅ Complete repairs and maintenance (paint, flooring, appliances, HVAC, plumbing)✅ Change locks if required by state law or property policy✅ Test smoke detectors and carbon monoxide alarms✅ Review lease terms for security deposit deductions✅ Send tenant security deposit refund (minus any deductions) within the legal timeframe

One of the wildest experiences I’ve had in property management happened on the very first day of managing a new property.I was conducting onboarding calls, getting familiar with tenants, when suddenly—the ceiling collapsed on a tenant’s back.The tenant had reported the issue for over 14 months to the previous property manager, but nothing had been done.

My first thought was to check BP because...you know...BP.Has anyone conducted business with or heard of: https://zoodealio.com?

If you determine that a cost segregation study is beneficial to your business, ensure you work with a qualified professional that conducts the study in accordance with the IRS standards and audit techniques.What are your favorite tax savings strategies?

Always consult an architect or expediter before making an offer.Step 2: Conduct a Full Violation & Permit Search 📋Before buying, research all open violations & permit issues.✅ Check DOB NOW & BIS Systems – Look up the property’s compliance history.✅ Review ECB (Environmental Control Board) Fines – Some violations carry daily penalties.✅ Look for HPD (Housing Preservation & Development) Violations – If the building has tenant complaints, HPD may have issued orders for repairs.✅ Assess FDNY Fire Code Violations – Missing sprinklers, blocked exits, or outdated fire alarms can delay approvals.📌 How to Speed Up the Process:Working with a permit expediter can help clear violations faster, making it easier to close deals and begin renovations sooner.🚨 Red Flag:❌ Buildings with pending lawsuits – Some compliance issues involve legal disputes with the city or tenants.Step 3: Close the Deal & Start the Legalization Process 🏗️Once you acquire the property, the first priority is to resolve violations and legalize any unapproved work.✅ Hire an Architect – Architectural plans must be submitted to the DOB for any structural changes.✅ Expedite Permit Filings – New permits may be required to bring illegal units, extensions, or renovations up to code.✅ Negotiate Fines & Penalties – Some ECB fines can be reduced or dismissed if corrections are made quickly.✅ Apply for Variances (If Needed) – If the building doesn’t comply with current zoning laws, a zoning variance may be required.📌 Why Speed Matters:Multifamily buildings with violations cannot be refinanced or sold easily until compliance issues are resolved.🚨 Red Flag:❌ Delaying compliance work = higher penalties – NYC charges escalating fines for unresolved violations.Step 4: Renovate & Ensure Full Compliance 🔨Once permits are approved, it’s time to start construction and bring the building up to code.✅ Address Safety Issues First – Fire alarms, sprinklers, and structural stability must meet DOB & FDNY regulations.✅ Schedule DOB Inspections – Plumbing, electrical, and mechanical work require multiple approvals before closing permits.✅ Comply with HPD Housing Regulations – If the building has rent-controlled or rent-stabilized tenants, ensure all renovations follow tenant protection laws.📌 Smart Strategy:Renovating to increase unit count (legally) can boost cash flow while fixing violations.🚨 Red Flag:❌ Unauthorized tenant evictions – Rent laws in NYC heavily protect tenants, and improper removals can lead to legal trouble.Step 5: Close Permits, Remove Violations & Secure a Letter of Completion✅Once the work is done, the final step is closing out permits & obtaining a Letter of Completion.✅ Final DOB Inspections – To ensure all corrections meet code.✅ Clear Violations from City Records – DOB, HPD, and ECB must officially dismiss violations.✅ Obtain a Letter of Completion – This proves the building is fully compliant and legally occupied.📌 Why This is Critical:Unresolved violations = major financing & resale issues.

Some agents do this well, some without a license do it even better.Having a license to serve other clients first and help you conduct your own transactions second is how I would look at it.When analyzing deals I will prioritize sharing with investor clients first and only pursue it for myself if none of them want to purchase it.Happy to talk more as you pursue all of this!

I guess it's just too many factors to consider and it easy to get overwhelmed and cannot get accurate info and estimation when I conduct analysis (ex. property tax rate, insurance, maintenance fee, rent, repair, closing cost, etc.) 

Move out was conducted and security deposit returned.  

When considering these neighborhoods, it's essential to conduct thorough due diligence, including analyzing rental demand, property values, and local amenities, to ensure they align with your investment goals.I hope that helps.

To safeguard yourself and your investments, it is crucial to conduct thorough research before engaging with any lending entity.