Experience derived from extensive dealings with people for 40 years professionally and in the capacity as a landlord.

This will make them laugh and then you have their permission to make a boat load of money on the sale - but in our closings the Sellers don’t have any idea what our numbers are.

Your standards can be even tighter based on bedroom size, flexible space, plumbing capacity, and other factors.Check out the Keating Memo from HUD to learn more: https://www.hud.gov/sites/documents/DOC_7780.PDF

This will vary property by property and area by area, but in area not only do you have all the city/county level planning: access, traffic counts, density requirements, unit counts for school districts, sewer capacity, etc, but you also have neighborhood councils which will have additional level of say in final design, scale, unit counts, uses, etc.  

The Queen Mary’s resurgence, with expanded hotel capacity and popular attractions like ghost tours, is a key part of this effort.

The line has $275 million of capacity, down from its original size of $1.55 billion.Write to Peter Grant at [email protected]

If you get a property that has all new mechanicals, fully updated units, get it all done in a timely fashion, and still leave 25% in the deal you are WAY ahead of the game, due to the fact that you have front loaded risk and updated your mechanicals. 

Here's kinda what I have: (I usually really front load properties with alot of repairs and painting so that it pushes alot off into the future)+ Gross rent- property management 10%- vacancy rate 5%- cap ex savings (250/ month?)

Your build out cost will be less competitive for the elevator systems, fire sprinklers, exterior parking spots- unless you do drive through load zones, and exterior wall surface.e. 

Be careful, the place is loaded with professional tenants.