. - That entire gain is tax free, since it is your primary residence- Your monthly payments will be over 4k per month, but almost half of that is going toward your own equity and the other half is a tax write-off that reduces your taxable income and possibly brings you to a lower tax bracket.SUMMARY: I'm not quite ready to declare victory for purchasing your home in NYC, but I have to admit, I just convinced myself a tiny bit more.

Our Tiny master bathroom.

Yes i figured that but the units are tiny.

Quality over Quantity.  

In our case quantity helps us because of our strict purchasing standards.

Not exactly a tiny brokerage, and their familiar with the process and okay with it.

If you are planning on hiring a property manager (or if you think you will ever have one for the property, even if you don't have one now), they usually will charge around 1 months of rent for just placing a tenant.Even though they are a condo and townhome, that is a tiny amount of cash flow each month.

Basements, Backyard cottages (tiny houses), Garage unit conversions.

Matt, Justin, and Rick, I have a tiny bit of experience rehabbing.

my rule, others may say otherwise but I'm not in the volume game, real estate is my current Business, and I prefer quality over quantity.....just fits my style best.