Being in NY maybe something to do with physical document transportation?

Physically see the property, don't rely on web pictures, sometimes they are years old and don't show the current state or the entire property. 

However this was a unique parcel given location and physical features ..

Many other investors have asked themselves (and others this question) but what I believe it ultimately comes down to is what are your goals (how much money you'd like to make), are you physically able to manage it yourself and do you have the right organization and systems in place to do it on your own. 

It doesn't add layers of physical damage coverage or cover things that wouldn't otherwise be covered.

With real estate, you’re owning a physical asset that’s less subject to daily fluctuations.

Since the payment was deposited into your account on 1/6/2025, it would typically be considered income for 2025, even though the tenant paid it on 12/31/2024.However, if you use cash-basis accounting (which most landlords do), the key factor is when you physically receive the money, not when it was sent or owed.

Do we focus on flipping, (currently we have actually been trying to do this, but we physically can't find enough contractors in our smaller market <100K population to do that much work).

Becoming a property owner.The hardest part about this right now is underwriting deals, remaining patient and disciplined.Outside of that, the actual details of managing the property are only hard if you do not have systems in place, delegate responsibility, and don't fully comprehend what physical asset investments require-- capex & opex heavy.

Henry to catch you up on this situation.. these were unsecured Prom Notes. that invested in companies crypto and off broadway theater shows.. there was no real estate to underwrite as non of it was secured by physical assets..