I pay a common area fee of 300 a month.The problem I have is that the elevator to my unit has been broken for over 8 months so I've been walking 8 stories everyday.

Okay so here's my elevator talk 😅Inspired from the recent "How would you start investing in RE with $500" post, that's basically what I've got right now 😂...

The elevated appraisal would allow us to pull an extra $38k, which is now enough to start putting to work in another project. 

I assume you will require at least (3) floors to reach the (46) units which implies you will need/want at least (1) elevator. 

Once the Market Analysis or BPO is completed you will be able to determine if the project is feasible-  and if it is, then you and your Project team can complete the Predevelopment Phase that will include architectural drawings, site plan, elevations, construction estimates, soils and environmental testing, just to  list a few. 

@tonysanfilipo         we really don't know, we have a elevator it came with it even do is just a 2 story, a large elevator, for wheelchair accessible, so right when we finish the rehab, I went down to check it out and I was on the leasing table, and I knew we had 3 existing tenants, like in there 70s, so they said you the leasing agent and I said no I am actually the owner is there a problem and he said your complex is greatest in the area since you have that large elevator and ramps everywhere, bla bla bla they said do you guys have any  retirement veteran discounts, kind of joking or not I really don't know so, I needed to get that place occupied so I said yes you a vet 20% off your first month rent, so they sign on site, word got around and we have to put a limit up to 15 units only giving that discount, so as people moved out the younger people all this people 60-70 live there now some veterans some just retirees. don't really know how it happen we believe it was cause of my discount, which at the begging my partners were upset now everybody pays on time we been really to luck

In my 14 years in the biz, I’ve been in about 15 deals where buyers had them done and only once has it come back as “elevated”(barely above the minimum threshold It was my listing, a garden unit in lake view.

Properties located in flood zones are perfectly fine as long as the heated living area is above the base flood elevation. 

Will it require an elevator?

(It is a waterfront home so I had to tear down and elevate due to fema regs)We owe $182k on the original property and when complete will conservatively appraise at $700k...  ($750k if market holds)Our plan was to get the house to CO, then HELOC to finish the other guest bathroom, Trim, do backsplashes and other “unnecessary” finishes.Due to covid  my banker told me things have tightened up so they won’t loan on a house that’s not 100% complete.Looks like my only option now is utilize hard money to Finish the house to 100% completion.