. $800 yearly tax for each LLC.

Can you either rent out your current property if there’s been little/no appreciation, or sell it tax free?

Annual taxes are low.

Personally speaking, from an investment broker and investor standpoint, I feel single family investing is the riskiest in some investment ways in comparison to larger investments due to the fact that it only takes 1 repair or tax/insurance hike to put you under or lose all income.

Somebody bought that house at Tax Sale.   

@Kristin Vegas- You are going to need those invoices to be able to write off the repair expenses for tax purposes, so if this PM isn't willing to provide them, you should look for a PM that does.

I promise you will have options once you finish renovating.If you purchased correctly (location & purchase price), you will have enough equity so that you can either sell it for tax free capital gains, cash out refinance (if mortgage rates are lower), or pull a HELOC to acquire your next property!

Utilized a low down payment loan, maxed seller credit, tax proration and closed on the 1st of the month to maximize my cash and acquire this property What was the outcome?

All the best to you during your last semester.Househacking is one of the most common routes for new investors in NY.For best returns, I'd recommend focusing on South and Southeast Queens, Central and Southeast Brooklyn, and the Bronx.There are parts of the suburbs (Westchester and Long Island) that have househack opportunities but the property taxes are higher and the commute time to NYC is longer.Abel

It is tax free in the sense that you will not owe taxes today on the cash-out.