Often electric baseboard is most cost effective.

Quote from @Karl Kauper: In my 20+ years as a landlord in three different states, it’s my experience that the owner can screen more effectively and find tenants way more quickly. 

With strategic updates and market insight, this property became a highly desirable investment, showcasing the power of effective collaboration and value-driven improvements.

But SEC lawyers assured me that it's all negotiable. 

Short term, assuming the real estate lobby doesn't sue this to keep delaying/appealing, once it goes into effect there will be no more broker fees paid by tenant *unless they hire the broker*Some long term effects I can predict already: - Landlords now having to absorb broker fees will bake this into the rent (e.g. how "no fee" units typically are priced a little higher than other units) - Real estate board will require another document (or checkbox) for tenants to sign stating that they're hiring the listing broker and responsible for compensating them for their fee *if* they apply and are approved- Regular New Yorkers will have an even harder time to find an apartment because you cannot legislate/regulate away a housing crises... 

Or can I draft up my own purchase and sale agreement with a real estate lawyer that includes only language that I need for my wholesale deals? 

Our lawyer wrote up the loan doc, they borrowed $60,000 to renovate 123 main st, I got first position lien on 123 main st, they paid $500/month interest and the $60,000 lump sum back after 12 months.

Did you ever have to get a lawyer involved or did it not go that far?

I'm interested in learning a bit more about typical vacancy percentages, size of the local population being serviced, reasonable percentage of effective gross income for expenses, etc. as well Peter.Hopefully some experienced member(s) will sound off!

A lot of people come on the forums and ask "Should I become an agent so I can more effectively invest?"