However, and I don't know anything about AirBnB in Denver, but my biggest concern for this project is the ability to consistently rent the basement for $1,800. 

Lots of folks are pulling out cash based on the appraised value for their next projects and holding for a few years to benefit from appreciation. 

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

My husband did 90% of the work himself, only using contractors for large electrical, plumbing, and construction projects.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

This one was strange because I ended up splitting the companies and partners involved in the deal so we liquidated halfway through the project. 

@Matthew DrouinThe one I'm looking at right now is a smaller 8-unit project - only around a $100-125k equity raise + loan guarantee.

This is our "8 x 8 project" - there, I've said it out loud to remain accountable! 

Investing in single-family residence fix-and-flip projects in New York involves purchasing distressed or undervalued single-family homes, renovating them, and selling them at a profit.