I wouldn't raise the rent unless you are prepared to deal with the issues that may arise like an eviction or vacancy. 

Finally, just know that your first deal may or may not go as planned – no matter how much we prepare. 

I'm not entirely familiar with the NY market but I imagine you'd have to venture out pretty far from the city in order to house hack something that would appreciate enough to be a solid investment.You can generate passive income much more quickly by going out of state (the midwest in particular).

I have horrible cat allergies and can no longer self manage/clean/prepare the unit when there are cats indoors. 

She threatened legal action and I know I'm in the right there but what/how do I prepare a letter to let her know her security deposit will not be returned because of unpaid rent?

Hi all,I’ve been an avid Bigger Pockets listener and forum lurker for some time now and I think I’m finally ready to take the leap into my first rental property.We plan to build a home on my in-laws farm shortly - realistic move in date wouldn’t be for atleast 1.5 years as we’re still preparing the lot.

An investor that we have done plenty of work for knew that I wanted to get into the business and offered a joint venture where he finds and funds the deal and I take care of the rehab.

Be prepared to go the eviction route. 

And whenever you invest here, you must be prepared for your investment being entirely correlated to the tech industry.

Congrats on this exciting venture!