I was looking at nyc buildings website for basement dwelling.I saw the conditions but were confused by 3rd and last bullet (see below).

There are conditions that must be met.Also, I believe the taxes are higher in Richland County than Lexington County, but I don't like there, so I don't have personal experience with that.

., title search, property condition, and liens).

I doubt any respectable lender will consider a property without electricity and missing breakers as "working" as the property is not habitable in this condition.

.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.

It was in rough condition, which limited competition and made it a strong candidate for the BRRRR method.Negotiation: After analyzing comps and repair costs, I negotiated a $420,000 purchase price, which was below the market value for similar properties in the area.

Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.

Depending on the condition you'll command a better price on the MLS vs. off market.

You can make minor adjustments based on the type of appliances (dishwasher, clothes washer and dryer, air conditioning, etc.) and the size of the rental.

Do the condition of the units match market rents?