In future years’ budgets, the association should consider budgeting for an Operating Contingency (funds not earmarked for any specific expense) or should consider creating a line item specifically to fund Prior Year Equity in order to bring the balance into the 10-20% range.If the board doesn't know what it is doing financially then they need a management company that does along with an accountant that understands how HOA's work.

You have a great situation that has allowed you to operate with no financial exposure. 

Creating an LLC in NY is a hassle - all sorts of nonsense about publishing in newspapers for 6 weeks, etc.I tried to research what it would take to own and operate a rental property in NY with a different state LLC. 

Id try to market to existing operators of mini storage in the area.

I understand that short-term rentals are only allowed in the Commercial Zone and Historic Core Zone.

In today's society, we have too many coaches and mentorship programs run by salespeople, not operators.

. #2) If you are banking on the fact that the listing agent is motivated by making double the money and stear the property to you.....that means you are operating under the assumption the agent is unethical and willing to do something illegal, ie stear their seller to a  worse offer so they can make more money.

Make sure the down payment is high enough to make sure the buyer/operator think's twice maybe 3 times about walking away.  

This is in a small town that I own and operate other rentals.I am a bit nervous of the type of renters that are in these deferred maint properties currently but see big upside if properties are restored, Partialy because all are within 1/10mile and many property boundaries touching the community college. 

I am grateful for her and her ability to understand how investors operate.