Key Market Movers and How to Track Rateshttps://www.biggerpockets.com/blog/2024-dscr-loan-rates-and-...How Do DSCR Lenders Calculate Your Interest Rate?

You only need a place to track tenant information, payment history, maintenance, etc.

2) Time spent by others: to qualify for the test "100 hours and nobody spent more time", how do we track the time spent by others and what proof would be required in the event of an audit?

One other thing to look for in a future architect, is one that has a track record of working with developers AND knows the entitlement processes for the very specific type of development you are doing.

Life has thrown you some curveballs, but you’re already on the right track by focusing on learning and planning.

Notice that I'm not saying "Sponsor who makes me money" or "Sponsor with great track record".

I think we are on the right track to starting evictions once again!! 

I've seen investors allocate 5-10% for capital expenditures (capex) and vacancy, but you won't have a clear understanding until you've owned the property for a few years and established a track record.

It looks like you're on the right track with your math, but a couple things could help.

Since you're aiming to purchase a multi-family property in Long Island, especially with the help of a capital partner, it’s crucial to run the numbers carefully (rental income vs expenses) to ensure you’re set up for success.