Call HUD and find out what your options are. 

New York home sellers must make disclosures under updated law in shift away from 'buyer beware'For the past 22 years, Long Islanders selling their homes could avoid answering detailed questions about their property by giving a $500 credit to buyers.They no longer have that option starting Wednesday, when new changes to state law take effect.

Code Chapter 47 - Fraud And False Statements, which is a very boring read, unless it applies to you.Please don’t do that.Make sure your Proof of Funds source has the funds and that you are authorized to use those funds and the source will vouch for you in court.If you are going to buy “Turnkey” it is recommended you visit the actual neighborhood and actual house before closing.Things can be very different in person.Afterwards is too late.You may not like what you seeGo with the Math, not the emotions or hopes of the futureIf you are losing money with the hopes of making it up later, you should seriously reconsider.Wishful thinking is a poor investment.Interest rates are going upAnd interest rates are going down.And interest rates are remaining the same.There is no clear direction for rates and there are arguments for going each direction – buy so that your property cash flows, even if you are wrong.Ignoring your workers.Always serve your workers pizza on the job.It keeps them on-site so they don’t wander offThey will think you actually care and will work harderYou get to become “one of the boys” and they will tell you things you need to knowHmmm, out of space, but not out of mistakes. 

A waste of time and energy - I have zero interest in competing with the Amazon of vacation rental search sites.Now I will state this:  If Airbnb was my only option, I would probably just close shop and focus on my other ventures.

Looking for possible loan options for repairs

So it sounds like I likely have 2 options:1) just sell the property and eat the Cap Gains tax and move on, or2) do the entire exchange under our personal names and do a “improvement exchange” and book it through the home build.

I have savings as well as the equity in my home as an option for starting capital.

Another option would be to go with a hard money loan with a 1 year term.

The capital gains was not too high a price to pay to have the option to do more things with my money.

Some people like to bet big and potentially lose big, we prefer to place medium size bets and consistently win more modest rewards.By primarily investing in properties with an all-in cost under $100,000, we often have multiple viable exit strategies in case the original one does not work out (we don’t pretend to have a guaranteed crystal ball, but we do like to have options at the end, and we find that our students do as well!)