If you allow this to continue, they will only get worse over time, and your losses will increase.I suggest you hire an attorney.

TIC offers lower entry costs and flexibility but comes with shared risks and complexities.

Do you offer the service of doing a cost segregation study?

great suggestions @Dave Foster - thank you!

I am reworking my plan as far as the class of property I should be looking at.I spoke to a bank today, and they offered me delayed financing (as an existing purchase) within a year to get 60% cash out, but after a year I am looking at only 50% cash out max.

The 4-bed unit offers $400 more per month in rent, which can improve cash flow, but may have a smaller tenant pool since larger families or roommates typically rent these.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

Let's of NYC investors look at other cities in NY, Rochester, Buffalo, etc... they can drive to them to see them, and they know the state well enough to feel comfortable.Most of the rust belt cities in NY offer cash flow as well. 

Justin, Most of us are happy to help and offer advice, but in order to offer good advice details are usually needed.

I highly suggest working with an investor friendly agent so you don't buy in the wrong locations.I like the west side of Cleveland.