I would like to meet other BP members that reside in NYC if meetings are arranged.

Of course, you are seeking them out here, but try to build a relationship with someone who has been there who does not have a profit motive.How much have you spent, and are spending on this pre-development stage?

What's the most surprising thing people don't know about the staging process? 

How many people believe staging plays an important role in marketing your properties? 

., if the house is worth $10,000 and they owe $5000 in back taxes, offer $5000 plus you assume the back taxes. he is a trick not mentioned yet. some, not all, local governments will allow the owner to make a payment arrangement on the back taxes. you simply just have to go into the treasurers office and ask. here in western new york, there is one local that will allow you to put just 25% down and make payments for the next year and a half. you do NOT have to tell the current owner about this. if you structure your deal to include you assuming the back taxes, you are not stating that you will pay them up front, you merely stated that you will assume responsibility for them. check with the local authorities and see if you can work such a deal

Currently my wife and I are in the end stage of a fix and live in.

@Nicole Starnes It might be time to step up, and just buy it yourself (for $65k) and then become involved in the other things that make being an REI interesting: arranging for and/or carrying out some rehab; then renting it out for it's positive cash flow (which should easily be generated, because that's why it was a great deal to begin with, right)?

You'll need to set up a trustee arrangement for minors as well.

You're clearly at an early stage to this process where it may be best to talk with an architect, they'll be able to consult with you about feasibility, code restrictions, permits, space planning, construction methods etc.

Bank money is cheap right now so don’t leverage all your $1M at this stage in the market.