For mid-term, once we have a tenant in place, we charge a leasing fee (between 10-50%, dependent upon the lease duration) for the first month along with a management fee of 13% of the monthly rent.

The seller will not let us extend due diligence and will just put it back on the market and said he could do these repairs for half of the cost of the low bid (~5k).

It sounds like you're on the right path, learning from mentors and connecting with like-minded individuals.As you look to move into buy-and-hold strategies, particularly with multifamily properties and commercial apartments, I wanted to extend an offer.

Hi Tony,Depending on what the full story is your lender might be able to provide you with a refinance so you have time to finish your rehab or extend your existing mortgage.

I would think a lender views the STR as a higher risk simply because a long-term tenant has a defined lease in place, that is usually 6 months or more in duration.

PML depending on the time duration of the loan will either be passive or active income.

The tenant and I have agreed to extend the stay another 2 weeks. 

I am working on creating a syndication and I will have the option where investors can extend their investment 5 to 10 years.

This area is found North of the Grand Central Parkway and extends from 49 Street going westward to Shore Blvd.

If you want to take a vacation, be out sick for an extended period, or even just move on, you'll need to "hire" and train a replacement.In terms of "The Cashflow Quadrant" (E - S - B - I), you're in the bottom-left corner: you're self-employed.You would need to move to the top-right corner and become a business owner: the business needs to run even when you're out sick, on vacation, "on family leave", etc.If you're new to the concept, "The Cashflow Quadrant" looks like this:E | B-----S | I"E" is you're an employee in someone else's business.