I don't do business in NY, therefore I don't know NY law, but in most states that's "Unlicensed Activity" and it's actually a crime.

SFR is 2100 sqft over two floors (one is basement), both floors are fully-finished, water pressure is not an issue. there is no other rehab in the main house, so we will have to cut into the ceiling for just the retrofit.Thanks a ton!

I’ve been out of touch on the laws recently, so don’t know the current status of the law.

Good morning everyone, My wife and I are trying to figure out if there is a more strategic way of purchasing my father in law's house with also giving him the capital to purchase his retirement home.  

Keep up compliance with all legal and regulatory requirements for LLC ownership, such as upholding state law duties, filing yearly reports, and keeping separate financial records.

so can evict and reset rents to market" is exactly the type of investor behavior rent control laws were set up to prevent.You are at the start of your investing journey: consider an area without rent control to start with until you learn a lot more.

That way if you have any issues collecting rent you can contact parents as well. 

Unfortunately, so far the courts have upheld rent control laws even if they appear if they should not be able to change existing leases.

The third floor apartment was occupied by a hoarder and had some issues.

I have not had any more issues with turnover on one type than the other.