Also it’s in a development which could lead to future ownership of other units adjacent to the property.

Since less people are into owning their own homes, developers have been building these huge complexes with just enough perks to push for rents that most locals won't pay... unless they are either older and do not want the house maintenance costs anymore, or if they are younger buy from the city where moving further out seems like a better rent.Side note: I've dubbed Long Island as the land of illegal apartments.

@Nick Santamaria There are actually a number of factors..

@Lana Lee I understand class as location, condition, and amenities (with locating being the limiting factor).  

@Kevin Jones Hey Kevin, I used to do some development and investing and now I am mostly focusing on agency.

You will never factor out all risk and the web will only prepare you so much. 

With regards to flipping, I think competition (as @Ethan Henning hit on) is going to be way more a factor than taxes in the current market environment.  

There has been a lot of development here in the last few years and a lot of tech jobs coming to the area. 

That being said, a large developer may have to update or put some money toward roads and traffic safety in order to get approvals.

This depends on a number of small factors that can add up to some big questions that need to be answered.I've done some sites in my younger years, so feel free to give me a message with your contact details and I'll be happy to help you out as best as I can.