All that being said, it might not be worth the cost of putting in parking, just be aware on the front end that you’re reducing your end buyer/rental pool by not having it. 

Donald Trump has also expressed several times he will do everything he can to influence the Federal Reserve to reduce interest rates, although he cannot directly control what the Fed ultimately does.

•Beyond that, flood insurance adds to a buyer’s monthly expenses, which can affect their debt-to-income (DTI) ratio and reduce their overall purchasing power.

This eliminates ALL the interest on that property, and uses the monthly payments you were making on it to help reduce the debt on the other quicker. 

Quote from @Kishan Purohit: @Heath D WallaceTo get this deal to cash flow, you could look into increasing the rent if the market allows or reducing operating expenses, such as lowering management fees, vacancy rates, or insurance costs.

PM me if you need any help.Anti-eviction act law https://www.nj.gov/dca/codes/publications/pdf_lti/grnds_for_...

Of course, that could be offset as he works to reduce inflation.

@Christian D.There are other ways to reduce your taxes besides becoming an S-corp. 

Also, here's a great article that describes the REPS status:https://www.aicpa-cima.com/resources/article/tax-rules-for-r...And another for the passive activity loss limitation that other mentioned:https://www.irs.gov/publications/p925

It (2%) technically would be coming from the seller by reducing the 5% to 3% and then you get a closing cost credit for 2% at COE.