To me knowing Detroit area like I do these days I would simply pass on any neighborhood that has bars and caged condenser units and this kind of theft I dont think there is much long term upside and just a ton of risk..

A lot of investors based in markets like California and New York are choosing to purchase their investments OOS in the Midwest because of the affordability and numbers making more sense.

To start my portfolio, I intend to buy a property in my area to retire my mother from New York.

I am located in new york city.

To estimate closing costs and monthly expenses for a multifamily property, closing costs in New York typically range from 3-6% of the purchase price.

Any competitive DSCR program is going to be in the 90-day seasoning range for allowing a refinance based on the newly appraised value.Your 9-month seasoning should not be an issue, barring an extremely unique situation (like inheriting a property or having it gifted to you).------------------------------------• 0-6 Months (Delayed Purchase, no Rehab completed) - up to 80% of purchase price• 6+ Months (Cash-Out Refinance, no Rehab completed) - up to 75% of appraised value• 0-3 Months (Cash-out refi, Rehab completed) - 75% of appraised value [good rates]• 3-6 Months (Cash-out refi, Rehab completed) - 75% of appraised value [best rates]

@Monica Juarez-Gonzales Adding to prior note that @Michael Plaks has created the best resources and content, bar none, to help investors understand how to approach Cost Seg.

This would not necessarily be the case, or the spread could go the other way, though such motive could present one reason for conversion.I am not even sure if rent control gets eliminated through a possible condo conversion in most towns in Hudson County - West New York, for  base condominium rent > $1000, is one exception, it seems valuable to determine the others.

You see this in New York, San Fran, Socal, Miami.

The Fair Housing Act doesn't bar landlords from discriminating based on Section 8, but some states and municipalities do!