IN NYC and many other major metro markets with super high prices you are not buying for cashflow.

@CL Tumlin ,Depreciation as @Dave T said will be prorated for the number of days in the year.Unless you initially segregated out the costs upon purchase between the individual components of the home you will continue to depreciate it over 27.5 years.

Which I'm pretty sure they will barring any major national/international catastrophes.

She is a executive interior designer for a major bank and she remodeled my kitchen.

You need to have enough cash on hand otherwise these annoyances will become major financial disasters.

Once they started repairing the damage, they found that one of the structural supports was burned on one end, but that meant it had to be completely removed/replaced, and a few other major issues.

If your property is in disrepair they will cite minor things to fix and major things to fix.

It has been vacant for several years and is in major disrepair.

A good friend is a major tax lien buyer and we converse frequently, I occassionally buy in on one of his deals or buy property from him.Also I buy (and have bought) a good bit of junk real estate and property tax issues and how to deal with them are frequently part of the deal.Glad to help if I can.

Those who are individuals may shift to some diversification into real estate but for the vast majority real estate isn't even on their radar, thankfully.