From a financial standpoint, the key is to ensure you're purchasing properties at a price low enough to make rehab costs and refinance achievable.

Is this LTV based on ARV or the purchase price? 

@NA NASince this is your first purchase, focus on finding a property where the numbers work, rather than just any deal.

(Sale price - selling costs) -(purchase price+ purchase costs)- renovations = taxable gain. 

Property Taxes Will Likely Increase After Purchase•If the current owner has a homestead exemption, their tax valuation is capped.

Westchester, although one of the hottest markets, has a ton of upside with opportunities for both cash-flow and equity. 2-4 family properties in Westchester are the 2nd most affordable in the NYC Metropolitan area (next to Suffolk County) making it easier to find cashflow opportunities when compared to the boroughs and other suburbs like Nassau.A client of ours in Westchester recently purchased a < $800K 2-family with a detached 3-car garage which brings in additional rental income - from a local business owner with commercial vehicles.

Great question - the seasoning period typically begins the day that you purchased the land.

The issue was there before i purchased the property.

I purchased a property in Chicago in 2024 and pay $400 a month for my water bill (unmetered).

Purchase price: $28,500 Cash invested: $178,000 Sale price: $250,000 Bought a 3 unit riddled with drugs or prostitutes from the city at the tax auction, spent a year gutting and consolidating all three units in two structures to a single-family home with an exterior side entry garage.