The average days on market (DOM) in the NY Metro area has decreased over the last year.

If you can get it out of sight in basement, which shouldn't be too expensive, you are clear with insurance companies.

After expenses, net = $1,500.

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

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.

I know it's an expense, but you inherited the property at the "current value." 

Can someone tell me what they pay monthly for business expenses for their software..

I have a few rentals with section 8 tenants, and they tend to stay on average 4-5 years.

@Jim Stanley Keep in mind any expenses of your SDIRA asset must be paid for by the account that owns that asset.