It would be seen as a rate and term transaction, and your client would have to pay lender fees, third party fees and escrows.

Section two consists of the gross income from the property for investment, and section three will calculate the interest amount that is over your deduction amount that will have to be utilized in the following year.To ensure that your tax forms are filed correctly, it is best to have assistance from a certified accountant.

The other two triplexs, which had 2 unit and the 3 units renovated, sold in the past month (listed at $225,000 and $231,000).

My two cents is to explore house hacking opportunities before you invest out of state. 

Buy again in a year or two.

Before you say "I am a fiduciary" please go submit your ADV or regulatory documents to the Institute for the Fiduciary Standard as I have and get third-party approval that you are in fact a fiduciary. 

I am a 21 year old investor based out of Brooklyn, NY w/ two investments properties (payed off mortgage) that I manage and I have been pushing forward and researching and reading and learning as much as I I can about real estate.

@Chelsea Allen You raise two items here:1.

Third, what is the potential cash flow? 

My team tore out all the kitchen cabinets, removed the stand up shower, toilet, and vanity, added a laundry closet, knocked out a wall to add a full shower, built a large deck, installed all new flooring, replaced all but one light, had the electric updated and a couple outlets added, repaired two broken windows, replaced some of the plumbing, painted the exterior of the house and all interior rooms, put in all new kitchen cabinets with quartz counter top, all new appliances to include washer dryer and dishwasher, installed a new tub, vanity, toilet, built a stone base to the fireplace, and did some landscaping.