Our state law states "An owner may impose a reasonablelate fee for each month an occupant does not pay rent when due."

I sometimes use my HELOC or BLOC to buy a property, do some work, rent it out and then get a loan and when the balance jumps up that kicks me back into the high 700s, but it recovers quickly, even before the balance is paid off again.Just google: how to improve my fico.

I’m Jorge Vazquez, a licensed broker, investor, property manager, and coach of the Property Profit Academy.

@Nick Belsky gave you great advice.In this situation, best to keep it as simple as possible, and I often give two offers; first, perhaps an all cash (way below market) and let the owner know that it is what it is--a below-market offer.#2 would be the seller holds the financing--I wouldn't go to a 30-year amortization, especially with an 80-year-old seller. 

@Dominique RhodesRecommend you first figure out the property Class you want to invest in BEFORE investing!

@Kenneth P FordRecommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

@Kim Tran Yea like what @Jackson Hanssen Is saying here, you can only 1031 investment property for investment property, and later down the line convert it to your primary residence.

In my experience, you can purchase the existing home and the encroachment is grandfathered in, meaning the vacant lot owner can't force you to move it.

I would like to house hack a property in the city or perhaps just outside the city instead of paying thousands of dollars paying rent with nothing to show for at the end of the year.That being said, is house hacking possible in New York City, and if so, do you have any advice on how to go about the process?

And it is not like you can swing around the back sorta property.