STR a suboptimal option in this market due to restrictive ordinances.Purchase price: $1,260,000 with 11% down @6.75% fixed 30 yrTotal Rehab costs (labor + materials) thus far: -$70,390Cashflow to date (NOT including Rehab Costs above): -$60,237Projected Cashflow: 3.1% with 3 LTR tenants Wanted the group’s expertise on options as I am considering parting ways with this property given the number of leaks that have come up in this relatively young property.1) In 2025, 1031 into another (potentially more units) multifamily at least 20 years old.2) Investigate leaks/Stabilize and proceed with original plan as LTR and accept uncertainty related to potential future leaks.3) Proceed as MTR (hospitals and NYC nearby) so that can intervene on issues during vacancy periods.

Those now have to be replaced - and your state may have similar restrictions, so check into that in advance. 

Membership is quite restricted but the intel is incredibly valuable.  

If you owned a property with a broken stairwell where someone trips and falls, got incapacitated for life, why would their damages be restricted to $170K.

Local governments may have tighter restrictions.

Prices go up because of government restrictions, lockdowns, regulations, Disrupting Supply chains causing prices to increase 2.

I also think it likely that ADU rules continue to get less restrictive.  

Combine rent control with restrictive zoning, or a nightmare permitting process to build, and you've got the recipe for an incredibly easy path to becoming a multimillionaire.

They are stating that because the address I want to list on Airbnb is not my primary residence, I only qualify for a non-primary residence STR permit, which restricts rentals to a maximum of 90 days per calendar year.Has anyone else encountered this issue before?

NYC is the obvious central point but the restrictions seem to be covering northern NJ and most of Westchester now.