Deal Numbers:Property as-is worth ~415kPurchasing for 360kTaking 295k 1st position loan "subject to"Seller is financing 30k in 2nd position Downpayment of 35k at closing Here's the sticking point - I've analyzed this as a AirBnb/VRBO rental and based on past rents in peak season, the property gets $300-$350/night.

Looking to speak with a seasoned “Investor LLC Lawyer” to ask if I should start to Incorporate.One Rental property currently managing.

So we're staring at several months that are normally when our busy season start ramping up... and we have no income at all, and some substantial overhead (mostly in terms of mortgage payments)While we have even discussed turning these properties into LTRs, I fear that in the current climate in NYC, this is not the time period to start a LTR contract.The only idea that I've come up with so far, is to list the properties at a substantial discount for week-to-month long chunks, and to advertise through alternate sources like Craiglist.

My town's hospital already was full of ICU patients before we even diagnosed our first case because we've mainly pinned our number of beds to the needs of the seasonal flu which peaked around early March here. 

I had ZERO savings and had to borrow the down payment (which now must be seasoned in your account or borrowed with FHA - which might be hard in the area you live in) - During this "down time" aka "kick some butt time" you can be learning creative ways to purchase:   ie Lease Options, Subject Tos, Wholesale, Partnering, getting private lenders, etc.  

Late filing or late paying penalties and interest will not be charged and no extension filing is required for the 90 day extension period.Though tax season has been extended I would highly encourage all businesses and individuals to have their returns complete by the normal due date.

I've got a self storage deal under contract on a property I ID'd on my 45 day letter. 

(PS maybe I am just a bad friend)Assets Under Management - We do not manage HOAs, we do not manage self storage, or ARBNB with a focus on SFHs, under 60 unit multi family, and commercial under 60k SF. 

That's the most ideal place to be for the season but that's it.

Nothing illegal, just let it sit in your bank account and "season".