@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.

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

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?

First off to be clear when using income for these screening purposes its GROSS income (before taxes).

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

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

This is a screenshot from a private Facebook group for tax professionals.

School me on tax strategies within each model.  

Now, this would obviously be negatively cash flowing since you would need to pay taxes and insurance.

I set up tax lien as a keyword alert so I get alerted when someone mentions them.