Plus, not getting permits for electrical is taking a big gamble on liability.

Originally posted by @Harry Gamble:@Steve Balinski.

Real estate is a team sport. 

Our PM does all the stuff for the condo that it does for apartment complexes, like porter services for bulky trash, lightbulb replacements outdoor, picking up litter, paying landscapers, sending in a plumber when some plumbing breaks outside, maintaining the pool, maintaining the sports courts, etc.So, why did *I* choose a condo?

Before the moral revolutions of the late 1800's/early 1900's, virtually every city had a "red-light district" where all the undesirable stuff went - gambling, prostitution, homelessness, etc.

Plastic bin lids keep in stink much better. if you want to gamble on it, put up a fence to the side to be respectful so he doesn't have to look at it.

Those migrating from expensive cities such as New York, San Francisco, Seattle, etc will still probably desire all the amenities of a major city and seek to relocate to a smaller city that still has major sports teams, great food culture, transit options etc. 

Trying to be a landlord there without doing serious research is like going into the Olympics and learning the sport as you go.

Just to give you a taste we discovered that our last Prez stole $24k from the reserve to gamble.

in my mind this works for the cash buyer but the leveraged buyer thinking they are going to pull all this equity so quickly well that may happen if they get stunning appreciation. but you know appreciation is gambling and a fools errand according to most BP buy and holders  :)