Do not replace carpet with carpet unless you have no choice.... in the long run, it will cost you more $$ since it will need to be fully replaced every 5-7 years on average and sometimes more often...and require professional cleaning periodically etc etc....LVP is my recommendation..... decent stuff is $3-4/sq ft (you can go cheaper) and will last much longer and hold up better

Steve For full disclosure, I am personally in this space, before being in the space, I had a chance to review hundreds if not thousands of syndications and varying models of such.Critical items:Minimum Investment AmountAccredited or Non-accredited or (Mix)Sponsor Track RecordCritical impact items that will cause the value to increaseSponsor FeesSponsor Equity Participation (Always like to see skin in the game)Cost of capital and capital (capital stack structure)IRR (will predict timeline so time is X)Cash FlowCash on Cash %Hope this helps a little bit

Sounds like a professional tenant with lots of experience.

Depending on what tax bracket you are in, and whether or not you are subject to passive loss restrictions in the eyes of the IRS (i.e. make less than $150k per year in active income, or qualify as a professional real estate professional), that annual total would then be added to your federal tax return.

In my personal and professional opinion this is probably not the best time to buy a rental property in New York City.

I’m in State College and completing high end flips geared towards professionals and University staff.

@Robert SchumacherI will leave the color choice to the professional designers.

$4k a month tenant I would go to a professional.

You are going to want to talk to several professionals in your state for this one as it is a legal maneuver that amateurs or even professionals not familiar with the details of your situation on the internet probably aren't going to be able to help with much.

They know how to milk more money, in my opinion, and would ask a for a couple more opinions from other professionals in the industry