Because investing in NY real estate is a whole different game with taxes, regulations, and all that fun stuff.

The property tax savings are going to be in the ball park of 40-60%, but to be safe you should double your expected repairs budget when calculating the NOI.If you have any other questions, or want a more in-depth response, I would love to help!

Taxes 10k HOA is 9k The current owner never did short-term rentals.

Prioritize quality locations.Keep healthy amount of reserves per property, hire a PM, and hire a tax friendly CPA(not planning just prep). 

I'm finally ready.

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

I 100% endorse adding in the escrows for taxes and insurance to set the buyer/borrower up for success. 

To defer all tax you must purchase in total at least as much as your net sale.

** This is part 6 of me documenting my fun and often stressful real estate journeyThe nightmare is finally over.Today I close on my second flip ending what will hopefully be the roughest period of my investing journey.

Any tax pro who is familiar with REI will be able to help you.