As GPs, we owe it to our partners and stakeholders to keep communication clear, honest, and consistent.

Even if they do not, it’s not your legal responsibility.Long version: It actually depends on your method of payment, and it’s not always clear.Credit card payments: clearly not you problem, no 1099s needed.Zelle payments: you DO need to send 1099s for Zelle payments.PayPal, Venmo and Cash App payments: this is where it gets tricky.

Given their poor execution, I asked him what would it take to cut the loses and pay the principal back and he said it would result in 50% loss of principal.

Save $$$, get creative on a rehab to cut the budget, look for cheaper RE, or leverage PM.

The typical income from a free and clear rental would probably be $800-1500/month - and on a financed rental probably $300/month on a good day in today’s market.  

Quote from @Christopher Johnson: @Scott Trench - FALSE - DECEPTIVE POST - It's sad people resort to this online bullying, invasion of privacy, attacking our staff, and clearly attempts to blackmail us for $. 

Just looking at Zillow I’m having a hard time making the numbers work between prop taxes, insurance, management on 20% Down vs cash currently earning 5% (albeit that 5% going away soon with rate cuts)  To be completely honest, there's not much right now that will give you decent cashflow without getting into a full rehab.

But it’s crucial to double-check NYC’s rental regulations to make sure you’re in the clear.

I think you can go as high as 15% but it's cutting into your margins and depends if you are a GC yourself or not. 150k is close to a million or more.

Etc.Etc.I've found that when you can get crystal clear on what your ideal good deal looks like, it is MUCH EASIER TO FIND IT!