The appraisal will tell the tale and I would put together a list of items upgraded and provide all permits to the appraiser so that they have the all the info they need to get this all done.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

Having spent my whole life here and as you might already know, owning a NYC property is like a page out from the fairy tales.

Or you can look up welendllc on instagram. 

We also have an Instagram page @avellino_cpm.  

Does anyone have advice, or cautionary tales? 

I have both, plus Instagram.

This is a cautionary tale for "absentee" landlords and property owners who own properties in neighborhoods that are not yet historic districts.

If you deposited the original money gram that had been reported lost or stolen, then I'm not surprised there was a stop payment on it.

I call agents in other brokerages to see if they have anything that fits my clients' criteria and I actively look into pre foreclosures, distressed properties, and other tell tale signs of investment potential.