Hey @Spencer Cuello, so you will find most of us aren't fans of arbitrage.I see you listed NYC so you know that you can't do a STR in the city unless you live there.IE: You need to be onsite, living in the same unit you are going to rent.As per usual...

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

Question, have you gotten a multifamily unit yet? 

Originally posted by @Joe Sera:@Christopher Smith when you 721 into the UPREIT you receive Operating Partnership Units (OP Units). 

However what happens when the tenant vacates and now the unit has to be turned over/takes a few months to find a new tenant and during that same period of time the sewer line goes and you get hit with that $15,000 cap ex expense in addition to the vacancy and turn over costs.

If you don't think any sort of fee is reasonable then continuing managing your unit may be in your best interest.Are you also keeping up to date with legislative changes in your area.

Frank, For a rookie investor with low capital looking to build a rental portfolio, the best strategy is house hacking: buy a small multi-family home with a low down payment (FHA or conventional loan), live in one unit, and rent the others to cover your mortgage.

I have experience in single family fix and flip, 1-4 family rentals, small apartments (10-30 unit), 100+ unit apartments, development, commercial retail, industrial and office.

Where do you live, and where are your units? 

Originally posted by @Joseph Binkowski:Hey BP Community -I was sitting-in on an investor presentation for a syndication of an attractive 320-unit Class B MF development in a fast-growing market, and then I realized... it was a 506c project for accredited investors only [which I am not.. yet:)]So then I began thinking...How can I possibly get involved?