I know that they are extremely short on affordable housing, so if I were still there, that would be my target market.

I am aware that there will be a 15-20% flipping tax that will be passed in NY which would make it extremely difficult to have any sort of margins on the outsell.

Alot of real estate investors only see the statistics which only the northern part of the city is accounting for :) The northern part is the portion that is causing those particular statistics while the south county/south city is doing extremely well.

Depending on the terms of her mortgage it likely trigger the due on sale clause which would allow the bank to foreclose if they so desired if they weren't paid out at closing.

Finding a partner seems like it would be extremely hard for me right now, still looking for meetups around me or anything like that!

So I pulled the trigger on an otherwise mediocre deal.

They need drawings and specifications otherwise it’s a wild guess (or a extremely detailed contract).  

But I have not pulled the trigger because deals are hard to find in my market and I have enough dry powder to take something down if the sky happened to part and something close to reasonable pops up.   

Being that the RE market is extremely hot right now if it's been sitting for a long time that's a good sign something is off.

@Caleb Brown that’s why I’m asking not pulling the trigger on nothing right away just seeing what my options are thanks for the info