You want a multi family in Brooklyn and you see the numbers, you would be lucky if you could get a closet for those prices. 

We are getting a sofa bed for the living room of our STR.

You can develop a coalition of other STRs to get other on your side.

They don't even have to get pre approval for the loan.

The general reason (avoiding any personal thoughts on wholesaling as a business) is that when you have a license, any fee you get for transacting or assisting in real estate must go through your brokerage and they must take their percentage.

You have a great rate and a house that's getting too small, but upgrading to a larger home with a larger rate is not doable.

You submit a letter of intent to get the property, do inspections first in New York after your offer is accepted, and after inspections are resolved, your attorney then writes the contract.

To answer your question, You would need to get an attorney involved and just issue a mortgage and note along with having a will that your daughter would inherit this.

It will take a long time to get anything close to what you'd save on taxes selling it before your primary residence exemption is up.

I am finally ready to take a plunge on my first investment.