If there is Lead present I would check with your states regulations on handling lead abatement.

Filing is not required to establish or maintain basis. 

Higher taxes, rent control new regulations, open border, increase in renter rights, lawsuits, property values down, increase inspections, loss of property rights, social  ownership, a nightmare.

But I agree with everyone else to check your local and state regulations - sometimes cities have added regulations above what the state requires.

Then you need to consult with a few GCs to get a scope of work and estimates established.

Yes, I have an attorney Yes, I’ll consult this with himYes, I have read the rules and regulations regarding eviction in California. 

Is there anyone on bigger pockets in the CNY area? Auburn NY, Skaneateles NY or somewhere close by?

Particularly rural areas and small towns.4) Political stagnation: Institutions are increasingly interested in a nostalgic view of the economy / regulation / solutions.Investors (in most cases) should not be activists.

Also, double check with your State regulations. 

Borrower shall occupy, establish, and use the Property as Borrower’s principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower’s principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower’s control.Is this just boilerplate?