What data points are crucial for you to find a potential flip?

While acknowledging this issue, my primary concerns lie with the potential ramifications on increased property taxes and insurance rates for my properties.

The first thing you want to do when considering a parcel within the park is to call the APA and just have a conversation with the land use people, will save a lot of potential headaches.

What is your strategy for maximizing its potential? 

Since Real Estate is all about leverage, you can do a far larger deal than a potential $200k investment or a $100k gain if you did a deal yourself. 

@Jalen De LeonFirst question to ask a potential CPA...do you personally invest in REI. 

- Lina Hi Lina,Your situation is very common, and deciding between selling or investing more into your property to potentially increase its income is a pivotal choice.

I think with any mid term rentals but especially in NYC it is important to vet potential renters as much as you're able to.

So you get potentially more coverage.If the Blanket endorsement is not available in CA, then what he is saying about adding to his policy is correct, each additional insured would have to be an sepparate endorsement to the policy and might be charged for (here it could be $50-$100 each)If you do not require the additional insured status, you should see if the company will notify you of cancellation. 

But even these will only find 90% of the potential problems.