Here are the basics:* 13 units today with significant cosmetic and infrastructure work required throughout.* Part of the rehab includes building out 4 additional units in an old common area.* We're 5 months into rehab, and we plan to begin renting the first completed units mid-Sept.* Overall timeline (including build out of new units) runs to late 2019.* In the end, the #'s pencil, but capital available for rehab will likely result in slower progress toward until rehab completion.And now the question(s)...1) Does it make sense to refinance at some notional midpoint in the rehab? 

They monitor transfers and will appeal the taxes if they suspect some thing; it is only paperwork to start the process.As well there are certain risks / issues you should be aware of;- As noted above, you have to take on the sellers original purchase cost which limits future depreciation- If there are / might be any outstanding liens, they will be yours to deal with- The tri-annual re-appraisal, is being done this year.

Do you have the infrastructure set up for this kind of purchase?

Scott,There are several items that you need to think about; common area cleaning, common area utilities (electrical at least), laundry room upkeep, fire alarm servicing and possibly monitoring, etc.

Investment in infrastructure?

“You have to respond to leads, even legitimate leads, within minutes or someone else scoops it.A Zillow Group spokesperson also confirmed that the ads are fake and told Inman the company is working to monitor scammers who use their logo or domain to mislead the real estate community.

But the counter argument to this is someone has to provide the infrastructure for the utilities, and this has to be paid for even while I'm on a business trip to the Fareast.

So the price may drop but it will be a result of the RE not being able to generate the same revenue as was attainable as an STR.I suspect we will monitor the price of beach property and if a beach front property in Leucadia area drops in price enough we may purchase it. 

And afterwards there should be more L trains running with newer infrastructure.  

One thing that I haven't done yet but I think will be beneficial for me is hopping in a plane for a few hours and flying a predetermined path noting new growth, infrastructure construction etc.