How does that work with transferring basis?

If not, saving a few basis points here or there is not going to help you grow your investment business.

They'll represent me in those matters on an ad hoc basis Originally posted by @Drew Sygit:Issues to consider:1) Recommend NEVER to pick up rent!

@Zachary McDonough print @Bruce Lynn post and hang it everywhere-by the bathroom sink, next to the microwave, next to the TV…read it a handful of times every day, and action every item he mentioned.

Ever since then, I've read anything I can get my hands on, cold called brokers, and syndicators to get my name out there, and most importantly practiced analyzing 5-8 deals on a weekly basis.

Keep in mind, they will make mistakes, forget things sometimes, just like we would if we did that job every day.  

I can’t speak for your area, but rent stabilized product is going for 150-300 basis points higher than free market regarding cap rates around this area. 

This bumps my rent up by a minimum of $480 per month if utilities are included and the unit is rented out on a per-door basis, because this demographic fears financial uncertainty over all. 

What is the "new" cost basis? 

I would guess that you'd have to rent it on a regular basis, i.e. a few days a month to get any breaks.