@Kristin Vegas- You are going to need those invoices to be able to write off the repair expenses for tax purposes, so if this PM isn't willing to provide them, you should look for a PM that does.

There are tax benefits to running everything through an LLC, but again, seek advice from a tax professional.

In non-community property states a husband/wife LLC is supposed to be treated as a partnership  And transferring from a revocable trust (reported on your 1031) to a partnership LLC (that files it's own tax return) is changing the tax payer. 

All the best to you during your last semester.Househacking is one of the most common routes for new investors in NY.For best returns, I'd recommend focusing on South and Southeast Queens, Central and Southeast Brooklyn, and the Bronx.There are parts of the suburbs (Westchester and Long Island) that have househack opportunities but the property taxes are higher and the commute time to NYC is longer.Abel

To answer your questions here though:Alternative options - I was going to sell all my stocks and etfs, take out a HELOC, and some credit cards to try to shoestring together enough to the deal without a hard money loan. 

I promise you will have options once you finish renovating.If you purchased correctly (location & purchase price), you will have enough equity so that you can either sell it for tax free capital gains, cash out refinance (if mortgage rates are lower), or pull a HELOC to acquire your next property!

Hey Drew based on what you said about the inspection I would do an inspection contingency that would allow you to get the seller to cover some of the expenses through closing cost credits.

Ask your PM how to come up with some strategic incentives...possibly listing high and reducing every 7-10 days until it's rented, offer a move in special, a gift card, future rent credit, etc. 4.

. - The 13 unit I went in on has been almost 2 years and still hasn't had the framing inspection passed- All my taxes doubled on my rentals, so now my cash flow has plummeted. - I've had multiple vacancies, including one where the tenant left after a year and cost me $6k in turn costs.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?