I’m unsure what kind of notice I need to give them—does it work the same way as residential leases, requiring a 120-day notice?

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.

I removed the chimney and added modern HVAC, making it the only house on the block with it, significantly enhancing its value.

I strongly agree with Nathan but wanted to add that residential RE, even with the use of a PM, is not passive.  

I removed the chimney and added modern HVAC, making it the only house on the block with it, significantly enhancing its value.

Exterior Deck or PatioAdding an outdoor living space like a deck or patio extends the usable living area and enhances the home's appeal, especially in regions with warm weather.In addition to these improvements, understanding the local real estate market and focusing on upgrades that align with buyer preferences in that area is crucial for maximizing ARV.Noah, thank you for this great feedback.

Just wanted to provide the BP community with some context on this thread...Our team provides affordable housing for residents in multiple states, and unfortunately sometimes we run into unruly residents.One such resident is Shawn Sheedy.

Enhancing Parking Facilities.

.), I'd recommend that the residential units fully cash flow the loan as my experience is that mixed use properties are tougher to finance as most lenders tend to prefer one or the other and something in the middle gets more difficult.For example, and granted I don't know anything about the area/neighborhood, I would expect this property (https://www.realtor.com/realestateandhomes-detail/111-NW-Har...) to be easier to finance than the mixed-use property you mentioned. 

An investor can enhance returns in the SM all kinds of ways.