@Ashish Acharya thank you for your response, but I feel I'm still missing/misunderstanding something - you said "the IRS allows spouses to combine their time for material participation purposes", followed by " only one of the spouse's hours counts for the REPS status, which means only one of your efforts can count" - which one it is?

If you are going to also conduct business in the outer boroughs, Long Island, Westchester and Rockland, then you'd need HGAR. 

@Chai Xiong Just tried calling today.

The duplex had carports and separate fenced backyard areas.

We’ve told our renters that they’re still responsible for rent until through the duration of the lease term until we find new renters, to which they were surprised.

So outsourcing some degree of property mgmt would be a must... but the deal won't work paying a local property manager a large % of my revenue...Instead, I would set up my "boots on the ground" (cleaners, handyman), and would need an offshore virtual assistant to manage guests and coordination of my local team. 

Welcome to the BP community!  

Just my 2 cents on condos, as a PM and broker in FL:1 - Most do not work, whether restrictions on lease duration, or due to the numbers because HOA fees cause low ROI.2 - Check rules in your state to make sure you are grandfathered in case HOA changes the rules.3 - Most SFR do better than MF not just because of HOA but also because there are low barrier to entry for 1,2, even 3 bedroom units. 

From the options available on a profile to "cancel" subscriptions https://www.biggerpockets.com/settings/subscriptions..False Option 1, "cancel Subscription":https://www.biggerpockets.com/before-you-goThe cancel button literally does thing.

Quote from @Carlos Ptriawan: for example, the following are the sample request from GP to LP when they ask loan modification to occur :I changed some word to make this remain anonymous********As GP we had negotiated the following loan modification conversations with the mortgage lender spanning the past year that successfully reduced the accepted principal repayment from the original $2X million loan balance to most recently to $1 million.