Here is the next deal, Adjoining residential lots for sale as a package on Mt Carmel Rd totaling 1.46 acres.

Without appreciation, your entire return is cash flow, and buying at a 6 cap with little to no real upside, means you will be making 6% on the deal.  

The common problem with this situation is that the seller and the bank want to be in the first position (if that bank wants any part of the deal in the first place).

I am looking to start small either in commercial or residential (if the numbers make sense).I can handle all of the necessary research/comps, underwriting, and generally making sure the deal makes sense, but looking for some guidance on raising the equity piece of the capital stack. 

A lender is not going to be eager to loan on a property to an individual who isn't on deed (one of the complications of sub 2 dealing with title insurance not IRS). 

Separately I have a non paying tenant I am evicting which will cost me c10 months rent but that is another story and buyer beware in dealing with NYC tenancy and housing laws - advice is hire a lawyer from day one of nonpayment.Two questions for the forum:1.

Make sure they are investing their own money into the deal. 

This is my first deal.

Hi All, I’m just starting out and, following the advice of a mentor, I’m trying to find an attorney who deals with real estate transactions and issues.

You’re way better off just sticking your money in the stock market and not having the hassles of dealing with STR tenants!