Other properties rent to travel nurses at a premium but they are sometimes very large and/or luxurious.

With liens over $1M it must be a  commercial or luxury deal high risk investment to go after.

I love reading Bigger Pockets and I plan on becoming more active on the forums but for now I wondered if I could pick your brains.Please note I'm aware there are probably more details that are relevant to making a decision (feel free to point them out so I can answer), but here is the question:I own a 2 bedroom 2 bathroom condo in a luxury building in West Harlem, NY (140's)Estimated to be worth 650K I owe about half of that in the mortgage and I've been renting it out making barely any profit (approx. $100-300 month) exclusively due to the high interest rate on the mortgage. 

We buy detached single family homes, but you can definitely go with a town-home if that's what you'd prefer- you'd want to focus on large square footage, high bedroom count, and consider avoiding luxury features that add cost like rooftop decks unless they're important to you.Typically house hacks operate similar to a home office deduction - take your eligible, deductible expenses and multiply them by the portion of the house that is a rental (for example, if you buy a 4 bedroom town-home and live in one bedroom you could deduct approximately 75% of eligible expenses).

If your father is actually the only one on deed then he could 1031 the entire thing as long as your rental agreement with him was reported and arms length so it would not be construed as a related party kind of thing.You do not have the luxury of considering a 1031 on your side.  

We have the ability to handle quick flips and rentals up to fully renovated luxury homes.

I, personally, would cancel whatever you signed up for, it's a good thing there is a "cooling off period," my brother had no such luxury when he was sold.

While you have your flipping networks set-up you now have nice capital to deploy into quality, appreciating, cash flow producing real estate like multi fam buildings, luxury SFHs in resort areas. 

For example, developing neighborhoods or luxury properties requires strategy and planning alongside connections to reputable sources that can allocate a quality build.

If you are competing with luxury price points you are in trouble with these finishes/carpeting.