I am an experienced renovator, having done work and management on all aspects of my own properties from the foundation up for 18 years.Since the State laws are new, I'm excited about the possibilities, and looking to chat with other Owner/Builders about the feasibility and pitfalls.I guess that my biggest open questions are about foundations and waste water management requirements in conjunction with an existing multi family building. 

It's a way to pool resources and get that investment moving.

Electricity, water, property insurance while you own the house... that could be a couple of thousand dollars.  

It's a B- class neighborhood.Apparently there is some dog pee odor and some bad scratches in 2 of the 3 bedrooms and water damaged next to the kitchen (which is tile).The bamboo flooring flows through all the rest of the house except the bathrooms and kitchens.Would would you suggest?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

We are about to wade into the AirBnB pool. 

In NYC usually heat, water and sanitation are the landlords responsibility. 

here in Florida many of the communities with STR rival and exceed hotels in terms of on sit amenities, water parks, etc.

I would love your expertise to see if I bought in wrong location (still water estates).

Dishonest contractors that didn't finish the job and ran off with their money,  nightmare tenant stole the water heater and all the appliances after being evicted, etc.