You need to provide at least 30 day notice to a tenant that you will not be renewing in NY State.

These can provide good cash flow and are easier to manage than larger commercial properties, especially when you're just starting out.Also, when I was starting, I found local meetups super helpful.

If it's currently an STR they should be able to provide you with the p/l statement from prior years so you can see gross rents, operating expenses, average daily rates and occupancy levels.

They provide fake checklists saying units are repaired according to agreed-upon inspection reports only to walk in to a home that is more damaged than it was during escrow.

We provide this lending criteria to all potential borrowers in an email, shortly after we’ve met.Background: What is your lending background?

However, I believe multi family provides the best ROI and is the best way to scale.

Liability Protection: Transferring to an LLC provides asset protection but may not always be worth the hassle or cost.Next Steps: Review your loan agreements, consult your lender, and get advice from a real estate attorney and tax pro to ensure everything’s compliant and beneficial.

if i were to acquire these and have them be owner financed, I would want clear title and the other mortgage on this lot removed - especially if my loan has a balloon on it that matures prior to the existing loan, as how would to provide clear title?

Additionally, you could also check with your insurance provider to confirm there's no active risk and provide that documentation to the lender as reassurance.

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years.