Port Washington, Lynbrook, Long Beach and Valley Stream have had the most small multi-family residential sales on Long Island over the last 6 months.

I am wary of regional banks after the issue last year where quite a few had to be bailed out in order for people to withdraw their funds.

My last tenant vacated a 3bed 1ba abruptly due to a divorce during peak winter when it's not ideal to find a new tenant.

Any guidance is appreciated TIA Hello,I am flipping houses for last 7 years. 

I took a partial withdrawal of $42,000 from my 403B plan five years ago to buy  a forclosure for $50,000 in cash.The property has been rented to the same tenant for almost five years now and I have collected almost  $50,000 in rent.Today the property is worth  $135,000 and I took a Heloc on it last year to buy two duplexes.I didn't mind paying the tax because I would have to pay it eventually anyway,  and the penalty of $4,200 I got back in five months from rent.

I sold 3 of these just in the last 45 days alone with very complex underwriting and it takes time to understand it but same strategy.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

I've gone to the Denver, Orlando, and now Phoenix retreats over the last few years, and would highly recommend these to anyone who's either a beginner investor (1-2+ deals), or 'middle investor,' and doesn't really have many investor ladyfriends in real life to lean on. 

I also highly doubt loss of use is something covered in a tenant policy - that is YOUR responsibility to get coverage for.

If you are losing money on the rental then you might be able to deduct the loss against employment income, but that's not really a tax benefit.