Quote from @Samuel Hudson: Hello friends I am new the market and recently bought a home in Weehawken 6 months backs .Its a three family home and we are currently doing renovations Right now.The rent leveling board told me that two units would have to follow a rent of 1650 for unit 1 which has three bedrooms and another unknown amount for unit 2 which they don’t have the information for .The previous seller I purchased the property from bought it as a tax lien .He has kept the property vacant for two years with no tenants before selling it to me .However ,the previous Owner he bought it from must have had tenants .I am putting in a lot of money into renovations and want some clarity on the situation I am in .The property has been vacant for the two years and currently still is as we are doing renovation .It would be really appreciated if anyone can assist me on what information needs to be provided by from the previous seller for me to be able to set the rent based on the market value .Thank you . 

If you move your expectations to keeping some money in, but refinancing out as much as you can then you'll be set up to not be let down from the jump.

. :) A zoning change can take up to 6 months, approval isn't guaranteed (despite Aldermanic support), and potentially cost a lot of money (architectural site / floor plans & dimensioned elevations, zoning attorney, holding costs, etc.) 

I have only been doing this for 5 years but what I have learnt is that it takes money to make money.  

To get things done as quick as possible , charging by the hour cost the contractor money , charging by the push/inch  is the most profitable way to do snow . 

However, if you could buy a 5-bedroom home and rent out four of the bedrooms, then it's probably worth the trouble.

You could offer cash for keys to get her out-NEVER hand over any money until they are out and you have the keys and signed paperwork that they are out of the property. 

(and money of course, but that can come from these things)

You might save a full percent just doing that and you have tons of money you didn’t pay in points.

Had to spend additional money to get everything fixed.