My Concern This feels like a developing behavioral pattern: Failure to meet initial financial obligation (security deposit)Repeated late rentNon-payment of late feesVerbal assurances without performance From a risk management standpoint, this seems like: Cash flow instabilityHigh likelihood of future delinquencyPotential prolonged eviction exposure if allowed to continue Options I’m Considering Serve a final Notice to Cure / Demand for Payment requiring:Full security depositAll unpaid rentAll late fees…with a strict deadline before filing dispossessory. 

Initial experience was positive.2023–mid 2025: Mostly smooth operations with one tenant turnover.July 2025: Tenant broke lease.

In researching and talking to several lenders, there are a few out there (Ameristar is one off the top of my head) that issues the initial draw immediately and when you complete the first phase of work, you can request the next one.it doesn't seem to be super common but that ability exists.Thought it might be helpful for fellow beginners to learning the lending options.

Don't overthink the initial contact.

Minkow was initially unconcerned, since he had prevailed before in similar cases on free speech grounds.[28] According to court records, Minkow had shorted Lennar stock, buying $20,000 worth of options in a bet that the stock would fall.[40] Even more seriously, he also bought Lennar stock after his FDI report, believing the stock would rebound after its dramatic plunge.[41] Minkow initially denied doing this, only to be forced to recant when confronted with trading records.

Material costs stabilizing but skilled labor still premium—anyone seeing 30%+ overages from initial contractor bids?

I have 1st lien HELOC options for investment properties that will do 80% LTV with a min. 25k initial draw.

Great approach—staying disciplined and focusing on the numbers is exactly how you build a strong portfolio, especially in a higher-cost market like Long Island.A few insights that may help as you evaluate Suffolk and Nassau County over the next 12 months:What’s working right now• House hacking (2–4 units) – Still one of the best entry strategies if you’re open to living in the property• Legal accessory apartments – Many investors in Suffolk are creating or purchasing homes with permitted accessory units to boost cash flow• Value-add single family conversions – Adding bedrooms, finishing basements, or legalizing existing units can significantly improve returns• Strong rental demand – Low inventory and high home prices keep rental demand steady, especially near LIRR access and major job corridorsThings to watch• Property taxes vary widely by township—this can make or break your deal• Make sure any accessory unit is legal or able to be legalized• Insurance and maintenance costs are higher than many other markets, so conservative underwriting is keyFinancing TipWorking with lenders who understand investment-focused underwriting (DSCR, asset-based, or value-add financing) can make a big difference—especially if you're targeting properties that need improvements or planning to scale.If you’re building your team, I’d recommend connecting with:• An investor-friendly agent who understands zoning and accessory apartment regulations• A lender experienced with investment properties and cash-flow-based qualification• A local property manager (even if you plan to self-manage initially) for real rent and expense dataIf you’d like, I’m happy to share insight on financing options for Suffolk/Nassau deals or run numbers to help you stay within your cash flow targets.You’re on the right track—Long Island is competitive, but with strong underwriting and a value-add strategy, there are still solid opportunities.Feel free to message me if you want to talk through scenarios.

The only reason it was is because of surprises we missed during the initial walk through. 

- How much should I project for setup costs/initial repairs?