I’m curious, what’s been your most creative or successful rebranding project?

Finish the project, take great pictures and go live quickly. 

I reviewed the SB9 legislation, and it states that properties occupied by a tenant in the last 3 years are excluded from SB9 but only if the project includes demolition or altering more than 25% of the exterior structural wall.

I can also see where the CPA firms don't want to do this given for the CPAs...this is likely a one time large catch up project, and then never again. 

With just these numbers to go on, if I felt the neighborhood is solid/trending up and not down and assuming your rent projection is realistic, I'd buy it. 

We do not factor in capital gains tax in our final net profit projection Hope that helps!  

On recent projects that I have seen, LTV’s north of 70% are struggling to pencil out on.

They do have to step in and pay on the underlying note while they foreclose on the wrap this to protect their credit and theoretically project their equity The issue with all this sub to and wrap stuff is under capitalized investors or investors that dont know enough or investors that have a no morals and just look at these like if it works great I have little money into this no real equity and I am not on the loan so if it does not work I will just walk off .. or really bad actors that get into title rip rents and never pay the underlying I have seen that more times than you can imagine. this sub to  wrap stuff is just super dangerous and I dont care who is training people on it there are just to many things that can go wrong when your sub to deals or wrap deals are with owner occs and their mortgages.. seller carry backs like we did worked fine and the deals were smaller in those days. 

One requirement is ceiling height.  

I'm not an attorney or expert in AP specifically, but do have a working knowledge of it for Civil engineering/survey work and have had two projects where this came up and I was able to 'ride along' and see how it unfolded.First, if you 'know' the property has been taken by AP then there's nothing for you to do with the tax assessor etc.