My question is, if I want to remodel aspects of it to increases its valuation does it make sense to wait until I rent it out a year to someone or do it before hand ? 

They are cash flow positive and have over 1B in assets ( net is close to 350million ) I’m only thinking that the seller wanted to make it attractive to sell his building having no renewal option which can give some leverage to new owner.

The market is saturated with STR's further from the beach and attractions, so my advice is to be picky about your location and underwrite the numbers carefully to make sure the investment will be profitable. 

I finally sold it for a small fraction of what I paid for it, but I was out from under the HOA fees and taxes which at about $1,700. per year, which is a sizeable sum for me, and as we know, these fees increase every year.Bottom line is, DO NOT purchase property there for an investment. 

Instead of buying trips or hotels for ordinary point values, learn how to increase the value of your points and stretch your dollar farther.It's an inexpensive e-book.

Irvington is very similar to newark, which has very strict laws with regard to rent increases. 

The rents go up consistently every year which is very important for appreciation and increasing cashflow over time. 

Year over year rent increases, icing on the cake.

Our supply of homes for sale on the MLS has been steadily increasing for several months, so I don't anticipate that price will start to increase until later in the winter.Right now is a great time to buy, with less competition it's a lot easier to get seller concessions to cover closing costs and interest rate buy downs.

For MTR, the best way to increase nightly revenue is to charge for pets!