Because the owners of Licensing Experts pay ALL CASH, the closing usually occurs 3-6 weeks, which is very fast compared to traditionally financed commercial deals I've seen on Bigger Pockets.The whole thing hinges on their very clever technique of getting existing commercial retail tenants engaged, willing to move into their newly acquired properties who are coming up for a lease renewal or lease expiration, rather than marketing for new commercial tenants - which would take way too long.Licensing Experts is somewhat of a "front" for their Mentorship Platform, as they evidently have many of their own separate entities for which they use to actually purchase and close on their commercial properties assigned by their mentees. 

Lease or no lease, you need to follow the timelines that NYS set out from my understanding.

Does the condo have STR restrictions (some only allow one-year leases)?

I prefer Rentredi for rent collection, lease signing, maintenance requests, etc.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Once you are on site you can decide if your $20K should be used as a downpayment on a double to house hack (to stop renting), a single to just stop renting, or a single to lease out.

Accepting even a small amount can complicate the eviction process and potentially delay your ability to terminate the lease in court.

It is a little slower to find a tenant, in our case maybe 3-4 weeks instead of 1-2 to get our average 10 applicants for 1 signed lease. 

Use surveys to gather feedback on their experience.When tenants feel valued and respected, they’re more likely to take care of the property and renew their leases, saving owners time and money.Fairness with VendorsVendors play a crucial role in maintaining properties, and treating them fairly ensures they remain reliable partners.

I don't use padsplit (weekly rentals); I rent on long-term leases in B Class neighborhoods.