Not at all looking to stay strictly in the NYC area; have been looking around at markets in Long Island, Upstate New York, New Jersey, and the surrounding region.

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

This way the taxpayer stays the same so it can do a 1031. 

we are doing similar but hotel / extended stay valuations are almost double apartments.

I'm not sure of what exactly, but something led me to start connecting with others here and do my best to actually stay active.

Just be prepared for a learning curve and stay adaptable to new challenges.

The numbers definitely work if the rehab stays within $100K–$115K and the timeline is 6 months, but with a full gut reno, I want to be realistic about potential delays.

You might get the dregs staying at your place and you don't want it trashed.Make sure you list it on VRBO and AirBNB for maximum exposure.

You want to make sure they are at or below 5% to make sure they are able to stay solvent.

All a mid-term rental is someone staying not permanently but longer than on vacation.