SROs once populated much of NYC and has since been phased out through renovation, demolition and updates to properties.

I found this deal through a relative, we negotiated without an agent through a period of x months.

When I sold the house 120 days later, I noticed a $14k charge for lender-placed insurance on the closing statement.I reached out to the lender and provided proof of my coverage during the loan period.

Of the two options, renovation will net you significantly more equity in a short time period.

Had a renter at full price of rental offering at 2300 within a 7 day period. 12 month lease, no kids, no pets.

Updates For 2024 and Beyondhttps://www.biggerpockets.com/blog/what-is-coming-in-2024-fo...Now, we will go over what’s next in DSCR loans—an overview of what innovations or additions to the DSCR loan product lineup may come in 2024, as well as the next evolution of this revolutionary loan product.Medium-Term RentalsOne of the biggest developments in real estate investing in 2023 has been the rise of medium-term rentals.

If it's just painting, fixtures, and some other superficial updates that could work.

I plan on up dating everyone as things progress. 

It's okay if it takes some time to close.You can make your due diligence period shorter.

If he opts to buy the property, rent paid during the lease period is applied toward the purchase price.Because owner financing can be complex, we recommend working with a licensed attorney who will consider your best interests when drafting the necessary documents.Good luck!