SizeConsider the number of units you’re targeting:Example: For Class C properties priced at $8M in a market where the per-unit cost averages $80K, you’d focus on properties with around 100 units.6.

Do you need to increase rents in the next year to cover your costs?

Basis - $323K Debt $66K Liquidation Cost estimate 10% if he sells through broker - $66K. 

One thing to consider is whether a two-family twproperty might provide better cash flow than a condo, especially with NYC’s high costs.

The IRS views it as taxable income because it’s not being used for the purpose of deferring taxes under the 1031 rules.For example, if you sell a property and only use part of the proceeds for the next investment, the leftover amount (after paying transaction costs, etc.) is taxed.

If you don't do that, once she passes it will go to probate court and it can cost a lot money.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

Visit the property and learn about various renovation stages, gain insights from our experienced investors / speaker, and learn strategies for evaluating deals, managing budgets, and maximizing ROI.What to expect:Property walkthroughsReview before photos and discuss transformation plansDive into real deal numbers—costs, profits, and challengesNetworking with industry prosOpen Q&A session to ask anything about the process

The terms and costs will depend on the property, your personal situation, the location, etc.

A cash out refi should take 2-3 weeks with most lenders, and you should have only an appraisal a credit report fee as upfront costs.