These are the numbers from the Schedule E taxes for repairs and utilities.

If you can get a 4 unit and a basement, that would be ideal and create major cash flow and equity creation, plus you can not worry about a property manager and boost your yield.Personally, I am very bullish on New York and NYC itself.

According to NOLO:The one thing you buy for R&E that you cannot currently deduct under Section 174 is the entire purchase price of long-term property.

These types of buildings, investment homes, and apartments/condos are ideal assets for their ability to increase cash flow for the property owner.

I have created a website before using Shoppifys platform for e-commerce, but those seem to lack the capabilities that a real estate website will require for functionality.

Ideally i would transfer my property from me into my rental property LLC, while my family and I move to a different residence.

Expenses for the tenant occupied portion are fully deductible, likely on schedule E.

You can also ask them for their Schedule E tax return which shows the income and expenses.

So, perhaps letting her stay to catch up isn't ideal for you. 

@David E Fitzgerald IVThanks for posting this.