The age of the building, anticipated trajectory of rent in the neighborhood, and scope of the rehab would give us a better chance of offering sound advice.

@Noah Levenson seems to me that a lot of people are timid these days as they anticipate market turmoil lurking around the corner. 

Having only 1 bathroom in the home made it sit on the market a little longer than we had anticipated and it was a huge lesson learned moving forward.

I anticipate this property to appreciate nicely over the next 5 years as the city has a"Master Plan" which is dumping a ton of money into the area. 

The demand for housing is expected to explode in the next few years, as the school anticipates 1,000 more students each year for the next 5-10 years.

Current market value estimates are based on Chase home value est and recent comps from realtors/redfine/ recent sales in the same complex.All 3 apts are well maintained with great tenants and have been worked on to the T so unless something really crazy happens I do not anticipate major expenses in the next say 3 to 5 years.Where it says full reno it includes shower and kitchen and new floors and everything.Monthly breakdowns;Brooklyn NYC - 400sqft Studio in Zip 11206Purchase price 2013 - $170k (plus $20k Full reno Includes new inwall ac + new Lochinvar tank-less gas water heater install)Current market value est; around $300k (2 mins walk to subway and 10 minutes from Williamsburg)Rental income: $1600Expenses: $295 (25 year tax abatement and very low hoa)2.

I anticipate being off in just about every area but know that I am particularly struggling with the cost of estimating the rehab (even just ballparking it) as well the financial aspect of coming from an initial source of capital (i.e. a hard money loan) and transitioning to a lower interest amortized one.Thanks in advance, can't wait to see everyone tear it apart!

Closed on property and made repairs (took much longer than anticipated).

Our rehab ended up costing $5k more than anticipated, which my partner kicked in and he also made the monthly payments.

It's going to take close to a decade for them to waste 15,000 assuming your managing it with temp settings and no open windows in the Winter, etc.I'm guessing since you are anticipating these upgrades that you are paying a price that justifies them.