I'd likely need professional property management, need an entire new set of contractors (how do I get elevators repaired?).

If the location is difficult to access like in a city with no street parking and the contractor has to walk the material in from a block away or you have to bring things up in an elevator or its a condo or you are asking him to go around and pick up items in many places or bring in samples of carpet for you to select or where they could only work specific hours, this could play an impact in the total cost also.

We are actually working with couple investors on this strategy now as it's becoming more and more popular due to the elevated level of returns. 

I bought a 6 commercial unit, and the owner and agent said, "everything" is grandfathered in.....elevator, sprinkler system etc.BUT what he didn't realize, was the township knows that he is a SLUMLORD in a grade A area.  

The problem is that there is a flood zone along this creek and it only impacts 5 or 6 houses, so none of my comps are in the zone.Of course, I would get an elevation survey to see if the structure was actually in the zone, but I am pretty certain it is.

Etc...I'd like to hear/see more thoughts on Minnesota/Minneapolis in general.What are some neighborhoods that you think will elevate in price and continue to elevate?

Only thing pending right now is that I have the deal contingent on a Land Elevation Certification.  

as it relates to BP  in the beginning just believing that being a  BP member elevated someone to higher moral and ethical grounds. and finding out that its just like the rest of the world gots to be very careful about who is on these types of websites.. lost money with BP members who talked a big game  LOL. 

Not sure how that can be, having view a general front elevation photo - not specific). 

Properties located in flood zones are perfectly fine as long as the heated living area is above the base flood elevation.