Long-term planning allows for steady growth, compounding returns, and the flexibility to adapt to economic and societal changes.

Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.

I have several short-term rentals down here & am an STR expert in the area.

How long does this period last in New York, and how does it impact the auction?

As long as the wholesaler is direct with the seller and the deal is real, go for it.

While I help people find their dream homes daily, my true passion lies in real estate investing and building long-term wealth.

However, I probably would not upgrade it but I would rent it out LONG TERM at least until you know your long term status in Portland.  

With the increased competition, it’s crucial to prepare your property to stand out and work to address obvious buyer objections prior to going on market.

I would like to build a duplex on it for long term rental income.

Start to evaluate deals based on the income approach and you'll do much better long term investing.