Since your metric is modest cash flow with long-term appreciation, focus on neighborhoods with a history of steady growth and tenant stability.As a realtor, you already have the skills to analyze deals—so trust your instincts and take action!

When you take all five together they should paint a picture, but I also mentioned your gut is important (not your emotions).

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

I've looked at numbers when it comes to real estate investing and I've had a gut feeling like there's some reason to do that, but couldn't put it to words.

My gut feeling is that at least this particular fund is going to wipe out all the LPs anyway and that the GPs are attempting to keep things alive long enough that they won't take any haircut at all.

First off, it sounds like you trusted your instincts but still went ahead, which shows you’re a decision-maker.

Hey @Anita Z. in the end, you can just get a gut feeling on who they are from texts or calls.

Do I have the instincts to overcome every objects, no.

I plan on doing the following:- Full gut demo - done- Extend third floor to rear of building envelope and raise ceilings.

Btw, about the need for rehab, I'm talking about what I think should be fairly straightforward things, like replacing carpeting, repairing drywall, but not a complete gutting and remodeling.