It sounds like you trust your PM and he is doing what he is getting paid for.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

It sounds like you do if you want to self manage.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

It's not like the MLS discriminates on listings because of who is listing it.

My coach suggested (and I implemented) a "must do tracker"....it's a color coded spreadsheet (I like to print multiple copies and keep them on a clipboard to stay in my sight/top of mind). 

Sounds like you put in a ton of work to maximize the value, and that basement addition was a smart move.I noticed you mentioned the NYC luxury tax and some of the rental pricing challenges—have you considered expanding your portfolio in markets where you don’t have to deal with those kinds of headaches?

It’s paid off, I would “like” to leave it that way & maximize the cash flow while paying down the heloc between the rental & other income.  

If you’d like to explore these options or have questions about financing, feel free to reach out! 

So, we hope that the area can soon recover but it looks like a lot of the owners will be converting.