- Are there alternative financing options, like private lenders or hard money loans, that could be suitable for someone with fluctuating income?

As property reconstruction costs climb due to inflation, I anticipate more insurance providers will follow suit in the coming years.Therefore, investors with properties in high-risk areas might consider a 1031 exchange to a safer investment location as a prudent option.

If not, any obvious alternate investment that I could do on the property to raise it's value, get more rent, or save money that I may be missing?

yeah, exactly.What's the alternative?

That just tells me real estate must just be a safer bet than dental offices from an investors perspective, which is great as I'm moving away from dental.

Here's why.Each tenant segment has specific housing requirements and won't consider alternatives.

To do this, divide the cost based on the ratio of the fair market value (FMV) of each asset to the total FMV of the entire property at the time of purchase.If you are uncertain about the FMVs of the land and the buildings, you can alternatively allocate the cost based on their assessed values for property tax purposes.Source: IRS Publication 527 (Residential Rental Property)

Keep your exit strategy flexible; if the duplexes don't perform as expected, selling could be a safer option.

This could be a safer bet as we wouldn’t have to deal with cash flow concerns post-rehab.BRRRR: If we refinance at $256k (80% LTV of ARV), we could pull out most of the invested cash.

I used to work in the area, not personally investing there, but I have helped handfuls of investors secure financing in Dutchess and Ulster counties, I do know it’s seeing some heightened interest from investors due to its proximity to the ever-expanding NYC and relatively lower property prices compared to alternative areas.