Our company invests in only high-quality B properties (so no high-flow-high-risk C or D properties) and we have ROIE (Return including equity, as you used) starting at 22% in the first year and going up over time as the tenants pay down the loan (30 yr, 20% down, standard).

My startup works with a lot of investors who buy and rent in the NYC area, but most of them only do it to sit cash and bet on property appreciation.

Looking for small apartments, 4-10 doors in C+ or better neighborhoods.  

Would you classify the area as a C or a D in terms of neighborhood?

If the A/C or water heater goes, it's on you.

@Rikard LorénA rental property is known as a business as you put it on a schedule C or E of your annual tax return. 

I have two rentals that a C or so class neighborhood and they rarely check their email.

one thought is refi with Colony or Blackstone  pay off all your bank notes.. then reset with your bank notes back up to were you are today... when you get to your lending limit refi with C or B again and rinse repeatColony and Blackstone are dog dough in underwriting but they do give great rates and fully term loans as a portfolio lender.. to get these great rates they want to make sure they are not going to have default scenarios ergo very very tough on underwriting..

When landlord pays utility especially water on an older building I go 60% annual total costs. 50% on an older building all is in normal if landlord pays no utilities and there is no deferred immediate capex needed to the property which should come off of the purchase price or be an escrow credit from the sellers proceeds for the repairs.replacements needed right away etc.If you have a B area getting a 7 cap that is different from a C or D area with a 7 cap.

Is this place a A, B, C, or D quality?