If I pro-rate the electrical and plumbing work to just that needed to finish the basement and not include the new HVAC, we are left with creation of three rooms (each with an egress window), a 4-piece bath, a laundry area and a kitchette (both with new appliances) for about 14K (about $22/ft^2) This includes applying 2.5" of closed cell spray foam insulation to all the exterior walls and levelling of the existing concrete pad, before installing an insulated sub-floor.

New home buyers in these townships tend to be second home or summer home buyers from the greater NYC metro (2.5 hours away).And while job creation and economic growth in Sullivan and Delaware Counties in New York state are slow, the 3 - 5 year economic outlook is much more promising.  

No conclusion yet as I'm still only a few months into the creation process Here is my investor carrot website....

But if ever there was a poster child for having cold feet, analysis paralysis and “knowing too much” it’s me, so my success or lack thereof is of my own creation.

My poor experience with turnkeys led to the creation of the model we now use.

Condo creation/conversions are all the rage.

All the job creation and growth is happening in Texas, North Carolina and Arizona.

The major thing commercial agents have done a good job of protecting themselves by not advocating for the creation an equivalent to the MLS.

Often times the BIGGEST mistake investors make is using a broker or agent who does rental management on the side in between brokering sales.A quality property manager does it full time and has systems and processes in place to communicate effectively and handle issues in a professional manner.I would go to www.irem.org to see who is listed in that area.It will be hard if you are just buying one-off houses to get a quality manager.There just isn't any money in it for them.In those cases they will manage well when they need that little coin but when they get a regular sale your property will drop down on the importance list.You have to think of it this way.On a little house with 500 rent you are getting cash flow,depreciation,appreciation (hopefully),and principal pay down.The manager is getting a lousy 50 bucks a month at 10% of gross rents and that doesn't include their gas costs and other fees etc.If you buy an apartment building the manager doesn't have to drive all over creation to manage tenants with houses.They can make the same money in one place with a complex.Hopefully you will find someone.

You need to deal with areas that are common or shared and the creation of bi-laws.