Have any idea about Gift tax in NY?

Hey Isadore, Send the tenant a notice of non-payment and have the tenant go down to their local public housing authority office, HRA, or Department of Social Service office and provide them with the notice.

We'll likely have to look for alternatives to our primary house since we won't be moving much anymore, but I like the idea of small multis and getting a lending who fully understands the VA is certainly good insight.Thanks,Fritz 

And, yes, there are years of data points to validate that just within my office, tens of thousands of dollars of wasted appraisal and inspection fees for deals (mostly not mine, thankfully) that had 0.00% of going anywhere but the "Loan Application Declined" bin. 

This does not align with buying most buildings in cash.Once you progress in your investing efforts you may come across more UHNW individuals, family offices and institutions who would take the lower return for limiting risk (all cash deal).

Connecting with an investor-friendly agent in your chosen market is also a good idea.

OH is an escrow state, so i would have your agent reach out to the escrow officer and let them know you are cancelling the escrow, and which contingency you are exercising (whether it be appraisal, loan, or otherwise)... and ask when you can expect your EMD back in full.

Padsplit seems like a neat idea to me, but seems expensive. 

Would a HELOC or home equity loan on my personal home be a good idea to fund this?  

If you think renting to her might be a bad idea, then do not rent to her.