You will be able to apply bonus depreciation on your federal return(this matters the most as the tax rate here is higher).

Here's a link to the video that John Underwood referenced.

I'm going to make up a word here but Albany is very "neighborhoody."  

I understand there is no perfect answer here.

Here to help.  

Here’s how I do it1-   I do not “cross collateralize” assets, i.e., if I default on one asset (god forbid) the lender can not come after any other assets2 - I do NOT sign personal guarantees - I’ve got two banks that lend to me without a personal guarantee, but only up to 50% LTV.  

That's why I am reaching out here, to gain that understanding and potentially shift strategies if need be.

here are some good threads to readhttps://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/88/topics/1171104-the-m...https://www.biggerpockets.com/forums/48/topics/1159104-overl...

John, thanks for posting this question here!

@Nick M.Making $18k a year on a this investment is not a good returnI am curious how in 7 years rents have not gone up to overcome taxes and insurance - but neither here nor there.Issue is if it’s not cash flowing at its current value when you look at noi and cap rate what makes it appealing for someone to pay that amount?