Hello Solomon,A few tips I have for you would be to first; Analyze Deals Properly – Use the 1% rule (monthly rent ≥ 1% of purchase price) and calculate cap rate, cash flow, and ROI before buying. 

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.

Is this LTV based on ARV or the purchase price? 

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

Since your condo was purchased in 2024, it could work depending on the cost of renovations and rental strategy.

Purchase Price & Seller Financing TermsYour neighbor wants $200K, but the current value of the home is closer to $160K-$170K.

Quote from @John Clark: Quote from @Jay Hinrichs:  now one thing I personally do as a buyer is I will send in money but NOT EM I will send in money as part of the purchase price and Zero Em that way I can recall the money at any time since its not EM..  1.

Purchase 600k, rehab 1MM, gross rents 275k.

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

We can often do 85% of purchase price up to 80% ltv on a portfolio if it helps.