If the former, note per Union City Rent Stabilization ordinance (https://ecode360.com/15397000 is a slightly outdated version), "the terms of this chapter apply to individual dwelling units within a building, including condominium or cooperative units in the process of being converted, or having been converted".

After inputting all the data, they provide a review that includes cash flow, Cash-on-Cash (CoC) ROI, and even a graph to estimate the property's growth through appreciation, yearly cash flow growth, and loan paydown.

@Phillip Austin I self-manage my properties including some where I do rent by room as a primary strategy, and it is very effective if done well with good screening in place.The difference is starting with shorter leases for me. 

That does not even include the one or two deals that happen daily or weekly between realtors who know the buyer/seller and make a deal happen as almost an off-market deal.

@Nathan Frost typical for Detroit, that's why we offer our clients several security options, including removing & storing mechanicals when vacant and then reinstalling day tenant moves in.What makes you think the seller will install new mechanicals?

You've laid your case or lack there of out for anyone to include the opposition to see.3.

Quote from @Lolo Druff: Just like turn signals, you should always trust, but verify that the seller is telling the truth.Your offer to purchase should include a requirement that the Seller provide all documentation and agree to sign an estoppel certificate (also called an estoppel form or agreement).

Include it in your advertising.  

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.

I believe that the Federal Reserve is going to cut rates by 25-50 bps at it's September meeting (no emergency cut), but that 30-year fixed rate mortgage rates will rise to upper 6s low 7s around the same time, and Commercial borrowing rates, including for multifamily, will increase as well.