You can increase returns with leverage (that is a mortgage) or with value add (renovations, additions etc).I think cap rates (rents minus expenses divided by purchase price) on commercial and industrial is higher with less work involved, but its more expensive than I can afford--so I know next to nothing about that land.

In addition to managing a diverse portfolio of rental properties, we've successfully flipped several properties in recent years.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Westchester, although one of the hottest markets, has a ton of upside with opportunities for both cash-flow and equity. 2-4 family properties in Westchester are the 2nd most affordable in the NYC Metropolitan area (next to Suffolk County) making it easier to find cashflow opportunities when compared to the boroughs and other suburbs like Nassau.A client of ours in Westchester recently purchased a < $800K 2-family with a detached 3-car garage which brings in additional rental income - from a local business owner with commercial vehicles.

Budget Wisely:Make sure your budget accounts for the purchase price, the cost of the renovations, and any additional charges involved in flipping a house.

Be sure to calculate the impact this might have on your ROI.Fees: Be prepared for additional fees, such as origination fees, appraisal fees, and possible prepayment penalties.Things to Consider:Loan Terms: Understand the interest rate, the loan term, and any repayment penalties.

if there is appreciation, but you wouldn’t sell your current home tax free and buy a neighboring home to rent out, (There by raising your cost basis for additional depreciation and lower capital gains tax.) then it probably doesn’t make a good rental property. . 

WIth the new FHA & Fannie Mae legislation, many lenders are forecasting the rental income from additional units, even if they're not a zoned duplex.

Additionally, the contract with the wholesaler is set to expire on Monday the 27th.

Your best option may be to increase the rent to cover the additional expense.