Have any idea about Gift tax in NY?

Had to negotiate to 999,000 only to stay under the NYC luxury tax.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

@Jeanette LandI always recommend using a tax professional.

.• Public Records & County Websites:Local county appraisal and tax records can be a goldmine for owner information.

Our avg monthly expenses with reserves is around $1500 (mortgage, taxes, insurance, utilities, reserves ect).  

.- Rents staying flat while property taxes and insurance increase.- Unexpected expenses that eat into profits.For example, some investors who bought in 2022 at high interest rates expected strong rent growth to cover costs.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

Focus on absentee owners and start with the ones who live the farthest away and only own one property in the area since they have the least use for the property.You can also drive for dollars, looking for anomalies of disrepair and then look them up in the tax records and use a site like Spokeo to do cheap skip tracing.

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.