We also did many calculations of income and expense models over time, based on usage.

Expenses are notoriously high even putting CA prices to shame.

But yes NY is super expensive but one place I asked said they are around $550 - $600 for an appraisal.

We could be wrong, but it doesn't seem likely.Carini did the math for you early, if after repairs it assess for 240k as you suggest, you'll be able to refinance and pull out 187k, of which about 116k will go to paying off your previous mortgage leaving you with 71k to go plan your next move.This is very compatible with living in the house and getting roommates. 

There are $400/hr consults who can assist with almost every topic on these boards.Also, just for your information, I do plan to ask an attorney to review the final document but was curious at a high level if it's even worth exploring this opportunity.Good luck to you sir.

If you plan to stay there a long time 10+ years then likely the value will be the same or likely greater even if prices soften in between.

So if I “lose” money investing after depreciation, expenses, mileage, then we get a tax refund because it offsets my husband’s salary.

No soot, not operational, no insurance coverage.The lesson--the landlord should check all smoke detectors at least annually, and replace all batteries at that time, and invoice the tenant for the expense.

It is also important to accept that living in the center of a big city is getting more expensive and that, for the same price, with time it is only possible to live in the 2nd/3rd tier neighbourhoods. 

Many months of rates moving at most a few basis points a week morphed into dramatic, massive movements—with bigger changes sometimes happening in one day than had occurred in quarters or years prior.Real estate investors navigating the challenging market of 2024—with mortgage rates still at elevated levels—are at an advantage when they can lock in financing terms or plan purchases while DSCR loan rates are favorable.