The place was so run down and I got tired of saying vintage Because it wasn’t it was a complete disaster of apartments to live in.

All asset classes trade on cap rates primarily based on building type, vintage, condition and location.

Vintage, location, etc...all matter and making a little less cash flow for a safer, newer investment is a wise strategy for a first time out of state investor.

The other places you can be losing in vintage buildings in this areas would be shower that are leaking, or even more insidious if you have boilers with radiant heat you could actually be leaking into or under the foundation.

In fact theyre almost dead on with actuals from similar vintage buildings my friends own in the area.

.- Purchase unique, vintage, higher quality furniture on Facebook Marketplace, estate sales, and garage sales instead of buying cheap stuff from the big box stores.- The automation services such as Hospitable, Pricelabs, etc. are worth it in my opinion

Ive bought several in similar contition...vintage homes.

@Jeff PurlI think it’s always cool to mix vintage with the new.

Pay attention to the architecture the cooler more vintage looking homes the hipsters go nuts for.

., don't know the vintage of your building, but if there is lead paint and/or asbestos, demo can get more complicated.