There will be no further bidding as it is now gone at asking price pending to the tenants.For those interested in this type of mid-century modern restoration, they rent and sell really well when done right.

I mostly listen to science, history, culture.

I also had degrees in Mathematics, Computer Science and Physics (minor) and thought that if he could execute, he would own the industry. 

We look at this metrics (among others) as fundamentals that very much so indicate a healthy market (healthy location) where not only there will be high demand for rental units but renters will actually be able to pay rent and even pay a premium for more modern (or renovated) units, giving us the opportunity to add value to our properties that way.I hope this helps.

If you have an old electrical panel for instance, it can be very costly to upgrade to a more modern service and panel. 

Hopefully I can get these numbers down to a science soon.

@Mike Dymski  having been and worked for the 80s versions of modern day syndicators and having had a front row seat to the melt downs.. your exactly right it starts off very innocently.usually because they have so many investor in so many deals they don't want the word to get out that they have a bummer.... so lets just borrow from the reserve account of  Del Boca Vista Number 1 it will be short term loan we have the right to do it.. :)  then it just starts to go down hill.also many times these high flyers are very late to change their lifestyles.. and that adds to the cash flow stress.I mean I was totally stressed in those days I got wrapped up in a Civil rico with one of them..

It’s not rocket science but it adds risk to the deal.

I think overall the kitchen is going to look very modern with the plans i have and attract great tenants.

Modern day HML's who work with real estate investors assess a property based on it's ARV, which allows borrowers to get capital for the entire project.For example, if someone is purchasing a property for $100K, renovating it for $50K and expected ARV (After Repair Value) is $200K, then a lender may approve a loan for $150K.