My ideal house is a 1200-1300 square foot brick 3/2/2 in a decent area.(2) Sub $130K ARV (much higher and rents start to taper off relative to value)(3) Newer houses are superior to old ones (and will justify a higher price) as long as there is not a lot building going on nearby that will suppress home prices(4) The result when I'm done fixing the home is that it has to be fully renovated and updated (no deferred maintenance or cap ex for the next five years)(5) I assume 1 month vacancy per month.  

If the tenants have been there that long with suppressed rents, chances are the units need work.Some tenants may leave on their own.

LoanDownpayment 0%, SBA 10%, 25% collateral, 40% collateral, VA, FHA,Source of funds: SBA, Credit union, Bank, VA/FHA, Farm Credit, Credit Union, Hard Money.Deal SizeRealtorsLawyersSurveysTitle company or Title insuranceUtilities: Electric Plumbing Sewer Storm Ponds Storm Drains Water Fire Hydrants Fire suppression Fire extinguishersParkingDrivewaysZoning SetbacksHOACovenantsRoofGuttersSidingDoors/WindowsHVACPlumbingFlooringFoundationSidewalksDrivewayLandscapingLegal entity IndividualLLC Corporation S Corp PartnershipInsuranceProperty TaxesOnce you have this added to your spreadsheet, move around as needed.

Storm ponds, storm sewers, fire suppression systems, parking, ADA, fire hydrants, roads and access, fencing, utility acces and sizing,  D.  

It reduces the property taxes the cities could be collecting by suppressing valuations.

Rent Control Does Not Make Housing More Affordable | Manhattan Institute (manhattan-institute.org)6) Rent Caps Will Reduce City Tax RevenuesRent controls clearly suppress property values and municipalities can expect lower revenues, hindering their ability to provide essential services.7) If Rent Caps/controls don’t affect the number of new apartments created then why does the bill exempt them for the first 15 years?

Then throw in increasing rents and CAP rate suppression and the market gets a bit squirrelly (technical term).

Is a motel even a legal use, since in typical zoning that is a lower class than MF.For apartment conversion: conversion budget, ada upgrades needed, fire suppression and emergency exit requirements, occupancy, management.  

Loan        Downpayment 0%, SBA 10%, 25% collateral, 40% collateral, VA, FHA,         Source of funds:  SBA, Credit union, Bank, VA/FHA, Farm Credit, Credit Union, Hard Money.Deal SizeRealtorsLawyersSurveysTitle company or Title insuranceUtilities:    Electric    Plumbing     Sewer     Storm Ponds     Storm Drains     Water      Fire Hydrants      Fire suppression      Fire extinguishersParkingDrivewaysZoning    SetbacksHOACovenantsRoofGuttersSidingDoors/WindowsHVACPlumbingFlooringFoundationSidewalksDrivewayLandscapingLegal entity    Individual     LLC      Corporation     S Corp     PartnershipInsuranceProperty TaxesOnce you have this added to your spreadsheet, move around as needed. 

Supply is seriously suppressed.