How much of the 52 units do You own? 

5 units make a huge difference in NJ. 

You mentioned that you've been paying water / sewer for all 4 units. 

We have pulled permit for one STR, like air B n B and have furnished one of the units.

That fills your unit for the winter and buys you time to prepare for the next time.

Being 3 units, the valuation will come from comps not from cap rate/ income based approach.

I used a hard money loan to purchase this off market deal.I rehabbed the upper two units within two and a half weeks and have a renter already lined up for one unit.

I'm trying to analyze my first property and not sure how to set it up to run the number using the calculator tools here. 2 of the units are successful Airbnb short term rentals, and the other two units are month to month rentals to existing tenants.

We converted a old restaurant on the property to a coworking lounge, redid the pool and built out the roof to a entertainment center with fire pits, lounges, bubble chairs, barbeque, large screen TV, music, yoga mats and amazing views of the ocean and city lights.It is designed for coworking/coliving for business professionals and entrepreneurs who want to...Live where they work.

two things I have learned.  1,200 is a sweet spot for demand, and if you do have a large unit of 2,500 get a couple of them zoned for auto.