To plan investment and future rental goals in Albany, research market trends, explore financing options, understand landlord-tenant laws, manage property early, budget for maintenance, and connect with local investors.

You need to think about not just the potential income but also the potential problems such as city ordinances, state law, insurance, potential eviction issues, etc.

You will want to know your state laws regarding deficiency judgments, and whether your deficiency will survive the DIL. 

You will also need to check your local laws for any strict laws that may make running an Airbnb hard.

No it's your friends boomer parents giving the downpayment to your Gen Z/millennial friend to buy that house to their newlywed son with their new daughter in law/wife being emotional and running up the price because it's a "dream" house.

And consulting with a local attorney to ensure compliance with state-specific real estate laws, plus making sure you have the necessary permits, is a smart move.As you start, also look into state-specific rules regarding contractors and renovations, especially if you plan to flip in different states from where you reside.

Sewer line backup, ordinance & law, and replacement cost coverage are coverages I include. 

I know a friend who is an attorney, although they don’t specialize in housing law.

I see you invested a serious amount of sweat equity (and real cash) into turning it into something practically new from the inside out, and it looks like it paid off in a big way.

For the office, it is advisable to begin with home office deduction if one meets the requirements of the law.