Hello real estate family, I have done commercial real estate and landing banking in Mexico (Riviera Maya) for 12 years and now I am getting ready to move my portfolio to the US (I´m from Rhode Island originally) into Multi Family.

The property is uninhabitable right now, there is no power (tree took out the power line), gas or water.

I live in New York Long Island, I don’t have a specific neighborhood or area just yet of where I’m going to buy my first place but I do plan on buying a single-family home and renting by the room as to my understanding this is the best way to profit cash flow each month compared to the other house Hacking strategies.

The goal would be to generate equity in that home to than use in the future to buy a home on Long Island when the market is right??

Under section 1031, “USA Real Estate” is restricted to property within the continental USA, including The Northern Marianas, Guam and the US Virgin Islands (coordinated territories), but not Puerto Rico (US territory but not "coordinated").

I've met Bencho at our Long Island REIA (he drives down from PA to NY almost every month for the meeting), although I personally can't speak for his company, members of the group seemed happy with their investments.  

@Doug WebbI’m not sure about how Seattle’s laws are but in Rhode Island which is medical (I’m a patient) and Massachusetts which is recreationally legal smoking on your deck would be considered smoking in public which isn’t allowed.

There are a few Long Islanders here on the site . . .

I am also on the North Shore of Long Island.

Does anyone on Long Island have a reccommendation for an accountant that specializes in or is at least experienced with doing taxes for real estate investors?