My question to you guys is...would you go through a flip for 30K or less before taxes. 

Whether or not you'll be able to lower your current living expenses by househacking will depend on:- the type of property- property taxes - which are relatively low in BK compared to other counties- down payment- projected incomeThat said, househacking in NYC is totally doable and most first-time househackers find success in located small multifamily properties (2-4 units) preferably with some sort of additional income potential (i.e.

Part of that is the incentives our state offers to new business, part of that is a business friendly general assembly a regulatory environment, and part of that is our low corporate income tax rate.

These products have no income, taxes, or personal liability limits tied to the loan.

Forced Apperception (BRRRR or buying at a discount) allows me to build in equity from the beginning of the investment in case I need to fire sale the property for an unforeseeable reason.Debt-Paydown and Tax-Benefits are just a result of owning real estate and can be more-or-less predicted over a time period.

Second, I received a request from State Farm today: Please provide the gross sales/receipts amount for the insured location(s) as reflected on their most recently completed tax filing or anticipated gross sales for the upcoming fiscal year.This strikes me as a little weird and perhaps I shouldn't jump to the conclusion that this info will be used against us (and result in a higher premium).

then you're on the right track in understanding how hard it is.The second thing is that you can skip all the headaches of becoming a landlord and still get the cash flow, appreciation, and tax benefits by investing in passive real estate syndications.

Plus real estate is tax advantaged!

you could look for opportunities with reverse mortgages in default (backwards marketing) and tax defaulted property (the last group can be difficult to sift and sort due to large quantities).In the end, you’ll do much better focusing on solving problems that others cannot or are not willing to solve (hoarding, squatters, liquidity, defective title, skips, etc.).BTW, I started with working foreclosures (1978) and then deceased owner and title-impaired property about (35) years ago and have closed several thousand deals to date.  

I have no idea, but this doesn't sound right.This is in the tax code not a loophole.