Another benefit of this option is that it would allow you to get a conventional loan at 3-5% down. 

Are there any tax benefits from donating this land? 

You will get the benefits of a big city without the hassle.

Main benefits to this strategy include:- Low down payment options (as low as 3-5%)- Acquisition experience- Property management experienceThe NYC metro area has nearly 2,000 available 2-4 unit listings on the market.Other new investors consider the BRRRR Strategy.All the best to you on your journey!

I don't think I can reap the same benefits from notes that I can from owning property.

My goals include:Eliminating PMI for this property (I’m about $12k short in equity from eliminating my PMI requirement).Stabilizing the garden unit so that we start to benefit from the additional cash flow.

The goal here is to align with investors and educate them about the benefits of long-term strategies.

For additional context, here’s a snapshot of our financial situation:We’re paying the mortgage on our primary residence.We have one car with ongoing payments.I anticipate it could take up to three months to find a new job.I’ve already applied for unemployment benefits (in PA) and am waiting for approval.I’d greatly appreciate any advice or insights.

Quote from @Ian Ippolito: Quote from @Michael Plaks: Quote from @Ian Ippolito: Quote from @Rud Sev: 3) Unless you're doing a 1031 exchange  at the end or similar tax structure to defer taxes, you will have to *pay back* all that depreciation benefit at the end (on sale...which for you is in 5 years)  via depreciation recapture.

Our dollar is losing value so you need to be with a solid operator in institutional assets that cashflow in markets while hedging inflation with tax benefits.