Lease options, when done right, tend to decrease risk and increase profits.  

It's like a muscle... the more that you use it, the more you'll be able to wrap your brain around it and set the intended parameters.

Focus on increasing income and decreasing expenses.

Most will say no, but you'll learn deal evaluation fast and build that "investor mindset" muscle.

Once the property is placed in service, you're absolutely right that you'll want to find ways to increase expenses and decrease the amount you capitalize.

I noticed there have been some significant decreases in asking price up and down Western NC. 

The same can be said for the other boroughs and surrounding suburbs.It is still totally realistic to get started but it seems to get more challenging each year due to flattening or decreasing inventory (leading to higher prices).Uptown is the best option for househacking in Manhattan.

And others that have been going bankrupt like Starcity were more because of COVID and ending in cashflow problems because of the decreased occupancies. 

Market value decreased while renovating.

Here are a few ideas I am considering to decrease my tax liability..I have a CPA that I am meeting next week but they do not specialize in RE. 1.