I design my portfolio to be mixed between the stock market, investment funds, private equity, and of course REIs, specifically rental properties.

So we're staring at several months that are normally when our busy season start ramping up... and we have no income at all, and some substantial overhead (mostly in terms of mortgage payments)While we have even discussed turning these properties into LTRs, I fear that in the current climate in NYC, this is not the time period to start a LTR contract.The only idea that I've come up with so far, is to list the properties at a substantial discount for week-to-month long chunks, and to advertise through alternate sources like Craiglist.

I had ZERO savings and had to borrow the down payment (which now must be seasoned in your account or borrowed with FHA - which might be hard in the area you live in) - During this "down time" aka "kick some butt time" you can be learning creative ways to purchase:   ie Lease Options, Subject Tos, Wholesale, Partnering, getting private lenders, etc.  

We still wanted to keep the finances separate to ensure we don’t mix with our personal finances.

I design my portfolio to be mixed between the stock market, investment funds, private equity, and of course REIs, specifically rental properties.

Late filing or late paying penalties and interest will not be charged and no extension filing is required for the 90 day extension period.Though tax season has been extended I would highly encourage all businesses and individuals to have their returns complete by the normal due date.

Our purchasing strategy has been a mixed bag, as well.

I'd like to get into commercial development, whether residential development, multi-family, or mixed use.

That's the most ideal place to be for the season but that's it.

Nothing illegal, just let it sit in your bank account and "season".