A triplex or quadplex could provide more units for rental income, but obviously will require more financing, so having your financials and pre-approval lined up early is key.Since you’re already looking to network, attending local real estate meetups is a great idea—you can also connect with seasoned investors or agents specializing in Long Island properties who can offer advice specific to the area. 

Given the technological world we live in today, it surprising to me that it still works.  

Cons are the liquidity event that your parents will have to do to purchase the home (I assume the funds are in some sort of investment today so there's likely some tax ramifications on cashing those securities).

@Zach RumfieldI agree with @Bill B. and @Bruce Woodruff that, financially, this is probably a no brainer and that you should run the numbers to see how it pencils out because, even though your dad already owns the property, there are likely still some upfront costs to consider.1.

Fast forward to today.  

Hi @Greg Scott,I’ve been questioning that too, I know they’re in a tough financial spot right now so it’s entirely possible they don’t.

She's claiming financial hardship due to some personal issues and is asking if we can apply the deposit towards her November rent, and she'll make it up.

Prioritize your financial stability.

By doing it in this manner you still are getting people who are interested but just not today.

It sounds like you’ve made some great financial moves with stable income and savings.You mentioned that you’re focused on multi-family, which can be a fantastic investment, especially if you’re considering house hacking.