I recommend talking to a CPA who can look into the details of your case and provide tailored advice.

I've posted about this previously and provided copy of the guidance.

s, first rent of the newly created unit must be equal to the combined rent of the two previous RS units..in addition, newly created unit will still be regulated, NYS senate just passed bill S2980C..Substantial rehab is the only remaining strategy, which is not cost effective in the current market

I am wondering is there any hard money lenders that can provide 100% financing on investment property and also provide rehab loan for short time period?.

Look at fourplexes.I think we now  have Fannie loans (in addition to FHA) that cover owner occupied multi-family!

Foreclosures, short sales, and off-market deals can provide these opportunities.Target up-and-coming neighborhoods with increasing home values rather than already hot areas.Research comparable recent sales and get an inspection to accurately estimate the after-repair value (ARV) before making an offer.Follow the 70% rule - the purchase price plus renovations should not exceed 70% of the ARV to leave room for profits after selling costs.Focus renovations on maximizing returns - kitchens, bathrooms, curb appeal rather than over-improving.Hire experienced contractors and have a project manager oversee work to keep things on schedule.Price the renovated home at or just slightly below comparable recent sales to facilitate a quick sale.

If it is then it might be worth any additional headaches.

Partnering with Seth Choate provided valuable local insights, making this an attractive and strategic investment for Partner Driven.

The one thing to note is that these lenders typically have a minimum loan amount of $100K (Purchase Price + Rehab), and they will not require you to provide paystubs or tax returns.

In addition I am interested in notes.