I personally would not rent to these tenants (possibly if I got several months of rent as a deposit and a co-signor). 

Are the heirs going through all the trouble to get CO's for dad's estate in NY, from let's say, Singapore, if the estate has real estate needing a CO, or they'll unload it to a local investor and let the investor figure it out?

They are able to get a co-signer with a higher credit score.This will be our first tenant and I think we’re just trying to get over having to say “no.”

In my opinion, it is best to manage yourself, but if you aren't able to put the time in to build a great system, then finding a co-host or solid property management company that will pay attention to your property and charge a reasonable rate is your next best option.

@Justin Madison- thanks   1) have him complete 2022 returns  so that the net income is as high as possible   ( even if this  requires him to pay the higher tax amount )  ....many lenders can use a  single  year of returns to make a loan decsion if the  borrower has been  in same compnay / field  for awhile and  he doesnt  have to continue to  prepare returns this  way in the future    2) can you locate a relative or friend to be a co borrower ? 

I am a co-owner of the property (50/50) and my business partner had one of his employees initially set up our listing for the 4 plex. 

Assume this is a full-gut remodel.....so maybe a minimum of $150 SF x 2000 SF = $300k for you to get it back to legal/code habitable condition.Remember you need a CO from the local city to be able to sell or rent this to people.

We are running ~40% direct this year (and have gotten our revenue from Airbnb down to only 7%).Key factors: branding, communications, guest experienceMark Simpson has a few books with the latest one being the Book Direct Blueprint (I'm a co-author).

A co-signer is fine, and I've had those pan out OK; generally not an ideal sign either, but OK.

I am a Co-host working across the Southeast, specializing in beach (i.e., Destin, Myrtle Beach, etc.) and mountain (i.e., Blue Ridge) areas.