Then any profits from the company were paid as "bonuses" which saved a considerable amount of state and federal taxes.

Are they a headache you don't want to deal with, or are they an added bonus to make $ off of?

What a great bonus after you've seen some regular income from rents.Bob, I'm also curious about that as well (assuming you're speaking of LTV).

If the market continues to appreciate that will be an added bonus.

As an added bonus, in all likelyhood the value of your property has appreciated OTOH, if the basic structure is ALSO in poor condition, AND the roof is bad, and its not that great of a location, or floorplan, or... then it won't make any difference- you're looking at a teardown.It also probably won't work if you are unable or unwilling to do any of the work yourself; and/or if you are picking all new contractors out of the Yellow Pages.In general, I disagree with the idea of doing just enough to get it rented, then make it nice when its time to sell.

Sometimes offering the buyer's Realtor a bonus can help move the listing a bit.

They will also not get a bonus if the property sells faster in most cases.

(the price difference between the original contract with the sellers, and your contract with the buyers.)You then get paid at close, to release the seller from selling to you as agreed previously.This helps avoid title seasoning issues with the buyers lender, as they might want to see the seller in the transaction hold title for a year, sometimes less.Also, most lenders will not allow an assignment fee to be paid out of loan procceeds, so the above method avoids that issue as well.A bonus to this is one set of closing costs, instead of two as per the double close

A bonus for being early and/or a percentage of money saved on the project.You really want to give them skin in the game so that they will respond more or less as you would do when on the site.

I would appreciate any developers input but if anyone is from the NYC area that would be a bonus since you are more familiar with NYC real estate and its zoning which can be kind of unique.I have the idea of building live/work loft in the warehouse with the possibility of renting them since the zoning is R6, or artist work lofts if that is not permitted or can not be rezoned (I'm not that familiar with how zoning works or how to get it changed information on that would be appreciated) and rehabbing the townhouses for rent to artist who could then rent the lofts space to work.