Meaning you cannot just evict a tenant because their lease has expired.You will have to build sufficient evidence admissible in court and to the satisfaction of a judge to prove good cause to get a warrant of eviction.Many housing providers kept high risk tenants on month to month leases so that if the tenant stopped paying rent, you could simply give them a notice to vacate and recover possession of the rental unit that way.The reason for this methodology was because the HSTPA of 2019 passed in NYS made it extremely onerous and costly for housing providers to evict due to non payment.That method under good cause will be eliminated.So you can still keep tenants month to month but you will need to document the lease violation due to nonpayment rigorously.How many times and how late is “good” enough?

If not, they close on the property and look for the flip.They also mentioned the made part of the business a real estate brokerage for the better properties they come across and sell them via the MLS.

But I'm sure the developer made $1m.

@Michael Nguyen I bought a SFH first because I found a good one that made financial sense.

What made you interested in investing in this type of deal?

Received access to mortgage portal to ensure all payments are made (including escrow).Anything else here I should do or not do if acquiring for the long-term?

What made you interested in investing in this type of deal?

It’s too much to explain, just not worth it… Invest in America, vacation/live in Europe…Europe is as big as the US and the differences between markets is even bigger because Europe is made up of different countries.

Some were purchased specifically to be MTRs & others were conversions when it made sense.  

You made some great points.