If rates become more favorable in the future, we'll have an opportunity to refinance.Why we bought itThe 55-unit I mentioned earlier is a perfect comp for us.

When you hire a licensed professional, you’re looking for two things - expertise and legal protection.You mentioned researching the market, finding comps, reviewing disclosures, etc...Each of these steps comes with nuances and, in my opinion, takes a ton of experience to master.

Sounds like you put in a ton of work to maximize the value, and that basement addition was a smart move.I noticed you mentioned the NYC luxury tax and some of the rental pricing challenges—have you considered expanding your portfolio in markets where you don’t have to deal with those kinds of headaches?

You mentioned to a "rinse and repeat" but what if "partner" wants out at yr3?

I ask because as mentioned above if you have an investment that is  going to return 10%+ then does it matter what the rate is in the long run? 

Not to mention staff, I’d check on the number required to stay up to ratio throughout the day, night ratio is likely lower than day ratio.

I would not advise buying the condos you mentioned above unless there is something that I am missing.

You mentioned you took time off, but are you back at a W-2 job yet? 

A lot of times the different viewpoints lead to different questions to ask.In regards to your replies:1) I'm no legal expert, but it seems the sections of tax code you mentioned don't consider in-laws to be a personal relationship that would prohibit the transaction.

As mentioned above contact a tax planning specialist.