I'm currently in the process of closing my first primary residence deal in NYC, and I would like to ask for a piece of advice to the community.The current tenant of the Seller failed to move out by the closing date and the Seller decided to take a legal vacating process.Background- The current tenant of the Seller failed to move out by the closing date and I heard the tenant is avoiding direct communications with the Seller- Not sure from my end if the tenant is willing to moving out but struggling, or maliciously squatting- I have a vacancy contingency in the contract, thus I can back out at my discretion due to this issue, but currently there is no other properties that I want to move on to due to the market condition- The Seller is trying to take a legal action but it will at least take 3 months or longer, no promise to succeedAdvice to ask- My attorney could not negotiate to ask for a penalty for this delay because the penalty for delay was not included in the contract.

Would ordinary income include my W2, stock dividends and interest income? 

I've been in the real estate game for over 20 years and have done my fair share of transactions, including condos and multifamily properties.

This includes not doing the termite inspection.

Total amount invested = $165,000 including down payment. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Including financing strategies and cost of operating.

In my area foundation issues is common so it's something to include in the numbers.

Most loan packages include something you sign that says that you will cooperate with them to correct any technical errors like this and I believe it also includes the ability for them to sign for you if you don't but obviously they prefer to have clean paperwork where you have signed it. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.