Hey Kris,That sounds like a very exciting plan. 

Given the lack of activity / buyers in the market at this time with rates, would you reccomend holding and renting it until the market is better to sell in? 

Getting that first property is exciting—and yeah, NYC is no joke when it comes to price of entry.Honestly, a lot of people I’ve talked to in your shoes end up finding better opportunities just outside the city.

Linden is seeing a large amount of investment activity within residential 1-4 unit properties and newly developed facilities, which were ignited by the ONE Linden Plan.

Also, my brokerage has a handful of investor clients that actively run MTRs and STRs in the area. 

You will get a higher appraisal (more money out on a refi) and have better appreciation and an easier path to a sale when that time comes.Very exciting stuff! 

Excited to learn and connect with you all!

Since this is a short-term flip, the IRS usually sees it as active income, but if your role is truly hands-off, there might be a way to treat it differently.Have you thought about how you’re structuring the deal?

I'm worried, scared and excited at the same time.

If your clients/or yourself put the time into learning and figuring out a niche in the RE world that excites you, start looking for deals that make sense and always run the numbers.