Have any idea about Gift tax in NY?

I bet they wait until January or February so they don’t have to pay the tax on those gains for another year (which is why we may be seeing less selling this month than in a normal cycle).

I would be beneficial to determine if they are other aspects of the property that make it a worthwhile investment (tax, appreciation etc). 

This allows you to use all of the tax and deferred depreciation recapture to purchase the larger MF propertyA consolidation exchange is where you sell multiple investment properties to purchase a larger and nicer investment property, but you also get the benefit of using all of the tax you would have had to pay to your advantage.

I would like to purchase my first property sometime next year, utilizing this year to learn and network as much as I can.

.💡 Tax AdvantagesThis is where my tax brain gets excited!

There are tax benefits to running everything through an LLC, but again, seek advice from a tax professional.

Yes, property taxes are higher for investors but not terrible. 

Are they going to be able to buy your proudly done flip.3) If you misjudge the market, do you know when to dump it.4) Can you put a spreadsheet together on your purchase costs, carrying costs, rehab costs, closing costs, selling costs, tax costs, contractors that don't show and delay your project etc. etc. etc.5) Is the return worth the risk.

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...