See the below analysis;PP - 210k, DP - 42k, CC - $2500, Apprailsal - $500, Rehab - 15k, ARV - 250k Rent UP - $1250, Rent Down - $850, Garage - $300 (blended for 6mth lease) = $28800 - $2500 (2 months for loss of upstairs reno)  = $26300/yearExpenses - VAC - $170, Util - $220, Ins - $200, Prop Tx - $150, Repair - $200, Tenant Gifts - $25 = $11580/year + Mortgage ($706.61/mth) $8480/year = 20020CF              = $6280PA (3%)     = $7500PR              = $3520AA                = $25000Total            = $42300 ROI = $42300/$60000 = 71%Were hoping to have a $1250 upstairs rent for the new tenant and have them pay 60% of the utilities.

The first lien is a community bank so a note sale here is a loss for them as they likely made the loan.  

Then you only have to worry about taxes when you sell it or when you no longer have depreciation.Since everyone assumes the ability to show a net loss on rental properties, it's not really worth digging into Total ROI to determine if a property deal is good or not.Vacation rentals are still fine as long as you only personally use it no more than 14 days of the year.

Specifically heat and water for a triplex in lower Westchester, NY.Additionally, as I had mentioned before, my idea behind purchasing a duplex rather than a triplex is that my major goal was to constantly have 2 of the 3 units always rented and allow the loss of one unit to count for my annual vacancy rate.

It also has a TON of culture and great food because of the population, and lots of community and government support to improve the area.  

Most landlord policies have loss of rent, but I would imagine that your deductible is too high, most of the time not worth making a claim.

The others get by on welfare and food stamps while being fully capable of working.

Furthermore, even if I can evict tenants in 6 weeks, if the rent is $2000/month, that's $3k rent loss immediately.  

Just posting this to see if others who buy NPLs and do loss mit have had any success using a virtual assistant to handle borrower outreach.

I can afford a $3,000 loss, if that helps you understand my situation a little better.Also in the process of saving capital for my business ventures, though.