@Adam BartomeoGuys the IRS requires the 1099 amount to be equal to the GROSS amount you collected on behalf of the owner, even if you are collecting water bills, etc. from tenants.NOTHING is deducted from the Gross amount,including your PMC fees!

So we don't even have an approved inspection much less a lease with this potential tenant.

I saw the building has tenant and even upstairs which is direct to roof this one I got in first floor.

You got a screaming bargain that was so good that no one else wanted it from the provider side, even for free.

But at the same time, this market just keeps climbing, and it doesn’t look like it’s slowing down anytime soon.Suffolk is definitely more affordable than Nassau, but even out there, prices are getting ridiculous.

Knowing the rent will likely show up each month—even if the tenant has challenges—removes a lot of the uncertainty that can come with rentals.The people listing this apartment as a “Section 8 property” are likely trying to target buyers who value that stability.

U guys let it get this far over 3400.00 its your fault.. even if you did something wrong.. who is going to go to arbitration for such a small amount of money..

I mean even if the IRR is trash and the cash on cash returns don't come back as promised. 

We genuinely value architecture, history, design and quality, even if that means minimizing profits.

It's still possible to BRRRR now, but the deal has to be muuuccchhh better and those are just much harder to find.People are still making it work in real estate though, primarily by getting more creative and often needing to add even more value to make the numbers work.