Any potential or existing Broadstreet investors should be aware that the SEC recently filed a lawsuit against the fund and its principals and asked the court to issue a temporary restraining order, appoint a receiver, and order an asset freeze.

@John Chapman Since your insurance payout ($300K) exceeds your adjusted basis ($50K), you’re facing a potential $250K taxable gain.

.- Owner must sign a Hold Harmless to indemnify us against any potential tenant lawsuits relating to the work their contractor is doing.--- Another lawsuit resulted from owner's contractor taking down basement handrail to get supplies down the steps, then they didn't put it back and tenant fell down the stairs.- We also negotiate a reasonable completion date, depending on the Scope Of Work (SOW). --- Who gets all the phone calls and wastes time calming a tenant down because the owner's contractor doesn't show up as scheduled after they took time off from work or a 3 day job takes 3 weeks?

I was particularly drawn to this deal because of the strong growth potential in Bushwick, Brooklyn.

I’m thinking about selling it but wanted to hear your perspective, especially since the interest rate is so low at 4.75% & I don’t necessarily like the idea of selling an investment property but know my money could potentially be better elsewhere.

@Holly Thorsen see above for potential challenges tapping your equity in the rental.You only need 5% down for a regular mortgage, 3% down for an FHA mortgage - so why don't you have the funds?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Consider connecting with local REI meetups, hospitality groups, or even online forums like this one to find like-minded investors.You could also pitch your successful track record to potential equity partners.

Start by formalizing a lease agreement, evaluating potential renovations to maximize rental income, and deciding on a rental strategy (short-term or long-term).

I am assuming that even if you strucutred it with a higher purchase price (85% of value) and pre-paid rent it would potentially still be frowned upon.