I am a licensed RE salesperson in New York, but I am wondering about the requirements to start a PM company.

However, I'm in the middle of a cash-out refinance of an investment property I already own.

I also invest out of state.The concerns you bring up are valid.

So was I incorrect in thinking that by incorporating I can defer paying capital gains taxes as long as those are re invested in another piece of real estate? 

If you're having to go out and "raise" your entry fee, you might want to think about other investments until your cash grows.

Ten years ago they got it re zoned for high density , the neighbors fought it and it got delayed for 2 years .

Hello @Melissa Sejour,Choosing an investment city is the most important decision you will make, so you are wise to carefully consider your options.Where you invest depends on your goals.

You can also PM me and I'll get you connected with a local RE Attorney here in Houston I recommend! 

Quote from @Nicolas Tow: I recently purchased a 3,125 square foot empty lot in the 27th ward area of Humboldt Park Chicago and I was wondering how difficult it is to re zone from RS-3 to RS3.5 or RT 4.

You will need to re-stain the floor and then coat it.