I have befriended a real estate agent (who has become a true friend) and her son (who has aspirations to get started in real estate as well) and he has a house that will be vacant and is looking to rent it out.

I'm open to other areas as well, but based on what my realtor friends say about where I live now makes we want to get my foot in the door here. 

I’ve got a distressed and on-market house that was recently completely renovated until the couple ran out of money (all of the heavy lifting has been done, just a few things left), and it is listed well below market price compared to surrounding comps I could find.

I suppose you can do delayed financing as well if you want to close all cash to make it a quicker transaction. 

To me it looks like the market is still stagnant with the exception of the bottom end STRs - and I mean very bottom end STRs.A lot of new building is finally getting completed as well which is also adding homes on the market.  

so for all the ones that just get their cash and support their entourage there are others who use it to create more wealth and become very well off.. 

The additional person also increases the chances they have funds in a bank account that can be seized, as well as other assets that can be seized (verify bank vacuuming is allowed in NY). 

your business will have it's own tax return depending on how you structure it and you'll get a partner return either profit or loss and that will pass through to you typically if you are an LP. if you are GP it's a little different. you also get the depreciation of the asset as a tax write off as well as interest expense typically. 

Well here I am going on 55 year old and been in the electrical wholesale business for about 34 years now.

Hey everyone,Trying this forum as well!