They passed the resolution.

or not worth the extra money?

100% you should chalk this up to a lesson learned and fix your process to make it better in the future.I tend to remind myself that your tenant is in a situation worse than yours. 

I'm underwriting an 80+ unit property and it seems like the purchase price is too high compared to the market.

The lead came through one of our absentee equity mailing lists, and after meeting with him, we locked up the deal.

It was a newer subdivision and the builder had pulled out due to the Great Financial Recession of 2008.

The seller had a buyer that fell through and had already purchased their new home dependent on funds from the condo sale, so I was able to offer cash and a quick closing How did you finance this deal?

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

If there are any NY market stats/comparisons, you'd like to see in the future, post a reply or shoot me a PM.Below is a quick Q3 comparison between this year and '23 for Suffolk County:Summary:- Single Family values continue climbing- Multifamily Properties are selling faster than last year - Market activity (sold properties) has remained steadyMultifamily sale prices have (slightly) dropped despite sales activity remaining similar to Q3 last year.

I have a own a successful property management in the Bay Area focusing on multi-family buildings and HOAs.