The house is old and I need to know how do I test the mud guys for the quality.

Or they are bidding on undesirable properties that no one else wants and thus getting high rates.They buy the liens in your name and the redemption checks are sent to you - not your IRA account.

Look up "mud jacking"; hole is cut into concrete slab and concrete is pumped into the hole (underneath the slab) to change the level of the top finish.

The supply of quality multifamily assets on the market is limited, except in undesirable neighborhoods with high crime and economic decline.

Perhaps I have not enabled something I need to enable.I can see the Off-Topic posts if I manually click on that forum, but not in the main feed.Clear as mud?

To get attractive cap rates in New York, you need to find real distress and probably go into very undesirable areas -- except that everyone else who is chasing yields is doing the same thing!

If you notice the sales are all for similar prices or losses, then I'd look more closely at the details and see if there is something you missed that makes this building undesirable.

I presume you know your area well, and I know that in my area you won't find a prop for sale at $59.5K that doesn't need capital improvements (e.g. more than paint) or is an undesirable neighborhood, renting for $625.

As a rehabber, I was focusing really hard on the numbers, but an undesirable neighbor can easily lose you 10-20% on your ARV.

Here is how I am thinking about it: (Let me know if there is anything you would do differentley.)1)Demo2)Rebuild what needs to be rebuilt (walls,drywall ceiling,)3)Mud/Tape and sand4)Paint5)Tile work done in bathrooms6)Install floors7)Install kitchen cabinets/Vanities,Bathroom fixtures/Lights8)Install base boards9)Clean the house10)Call your real estate agent to list your fresh property