Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

I'd say no matter where you're located, some common barriers to success are: 1.

Hey @Dennis Gallof - I'm a broker, investor, and property manager in NYC to landlords like yourself.You're right, its very common for basements/cellars to be rented out (legally or not).

This is actually one of the most common traps a lot of investors fall into.

The fat tails always move the needles; it ain't your daily habits like cold ****ing showers and meditating to music.

But everyone who's successful has one common character trait, they play on their strength, they know their weaknesses, and they either improve on their weaknesses to bring the weakness up to standard or hire someone else who's great at their weakness to make it their strength.

There are also some great tax benefits to investing in opportunity zones which are commonly located in C and D areas.

So what you want to look for is a lender that will allow you to do a release of lean on a conventional loan OR go with a commercial loan (a blanket loan is a common one for subdividing & selling lots).

He is putting in 15% of equity as his family office as a TIC, tenant in common to the deal via a 1031 exchange, so that aligns him with LPs better than 99% of deals out there, also GP fees are fair to reasonable, 8% pref, then 80/20 and then for >14% IRR, they split 70/30, so better than 95% of last 100 deals I have seen.

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.