Why would companies choose to set up new operations in a high operating cost city?

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

If you choose not to show up, he would almost certainly be awarded a judgement.Of course, you could choose not to pay the judgement, but then he can send it to a collections agency and your credit score will be trashed.I don't see a scenario here where you get through this cleanly.  

There were some things that some of his crew had done wrong—the kind of things that you list in walk-throughs, like paint spatter.

After some initial research, choose one and then go deep in it.

One of the board members was there and is looking to retire, We hit it off and he opened up his 30+ property portfolio to me to choose from.

You may have asbestos in the ceiling, floors or siding and you may have lead in the paint.

To answer your question about maximizing profitability: I choose to invest for equity and forced appreciation.

Whoever you choose to coach you needs 4 things:1) Need to know what you want to know. 

However, between the much lower mortgage interest rate in Europe and a better tax treatment in the US, I'd choose the former.