I would say your standard, fairly responsible 2017-2022 era syndication nowadays might be experiencing challenges in distributing income, but still maintaining the asset well, achieving occupancies in the >89% range, and seeing rent growth of (2%) to +1%.

Since you’re renting out a furnished basement in Long Island, NY, you’ll want a proper lease that covers both standard rental terms and specifics for a furnished space.Easiest option: check out eforms.com or lawdepot.com — they both let you build a New York lease customized to your setup.

If it’s a For Sale By Owner (FSBO) and you’re comfortable writing contracts, you could use a standard purchase agreement form for your state, but I’d still recommend having a pro review it.

The newer neighborhoods will always be a little stricter because they want to keep a standard for the neighborhood as people are still buying into them.

Renting it as a standard unit might bring in $2,500/month.

Keep in mind a lot of the best deals are going to require a lot of work to get it up to a good standard. 

@Laurence Fru here's our standard copy & paste info about OOS investing:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location/neighborhoods to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

Also setting standards amungst your trades.

In return, I’ll gladly give you the resale listing with a standard 2.5% agent fee.That said… I’m still trying to figure out the best way to connect with the right agent.

The door is 5ft away on the deck.