There must be plans out there to incorporate french doors (for light into the living area) and thereby double my beds.  

If you incorporate you lose the ability to deduct this passive loss against your earned income and generally funds from a corporation are taxed twice.  

I work in corporate America.  

It's still quite affordable for multifamily investors, the commute is easy, and the area has been appreciating over time, besides being very family-oriented.I'm a data-driven kind of broker, and I find this graphic from Bloomberg to be extremely helpful: https://www.bloomberg.com/graphics/property-prices...Also, make sure to always check NYC's crime map: https://maps.nyc.gov/crime/ You can also see crime rates on Trulia and will soon realize that many listings for sale are on "hot spots" on those maps, so be mindful of that.I would also strongly advise you to find a good broker in order to assist you in the transaction: it may give you a clear advantage over other investors as they will know how to put you in the best position when presenting an offer and may be also aware of off-market deals. 

Also, you'd need to incorporate a construction business and get some workers (cutting out the subs would be ideal and you must know how to rehab as well). 

Down the road I may incorporate her as an employee, but for now we are in the early stages.I do appreciate your insight :mrgreen:

Then incorporate a different negotiation strategy than you might for an institutional lender.

The graphic with the colors and brands gets the point across perfectly.

It's 3 bed 2 bath and incorporating all of the #'s plus PMI and Escrow due to qualifying for an FHA loan.

. - We charge a small application/processing fee and have incorporated the checks into it.