Remember this is specifically for this area (Hudson County/NYC).

If you’re going to venture into Cleveland or another similar market, my biggest recommendation would be to remember that California is a unique hub.

I remember cussing.

@Robert Duncan just remember to focus on the business not the money and solve someone's problem.

I think it was 10% of the income but I don't remember if it was gross or net.  

And you might find yourself in a catch 22 later if you've been taking QBID or you sell a rental at a loss (remember 2009?)

Also, you will likely be unable to get approval for additional gas or electric meters, so be prepared to add the cost of utilities to the rent.Lastly, as an investor considering buying one of these properties, I think it's important to remember that a 2 unit + garden is not equal to a legal 3 unit, even if the expected rental income is comparable.

Then it's probably best to wait and have your Roth conversion taxed at the lower rate of next yearif you plan to double your business next year - convert now and use this year's rateif you believe that the new administration will increase tax rates for next year - convert now to lock into today's ratesif you expect to not have the cash for the extra tax - maybe waitAnd remember that you can split the conversion: do some of it this year, and the rest of it later.

Also remember you still have to pay the mortgage while renos are happening, so the bigger the reno the longer it will take. 

If the norm is first and last month's rent, then remember the new tenants won't have paid the last month's rent before moving, so it isn't as much of a burden as you think,.