A (while also speaking for B, presumably), bugged me already before availability of the C space that they want to  use it.

BUT the 1% rule just doesn't work for commercial multi-family, presumably b/c the mortgage terms are different (higher interest rate, shorter amortization, etc - I can't identify any other reason for this)??? 

To begin with, I'm presuming you are talking about a foreclosure auction.

The current loan rate is .03875%, presumably a cash-out refi would be around 5.5% fixed and a Heloc would be a variable rate tied to prime + 1%.

You've posted on a public forum with (presumably) your real name and location.

Tim Czarkowski, your closing attorney, on a short sale I presume, is not a moron.

I presume you'd just include the reno cost into your numbers. 

I would expect about 1.75-2x the taxes from what you quoted for a ~$200k (presumably multi-family if you are getting that type of rent) in Hudson County.I own a few multi-families in Hudson County, and I also usually budget more than what you are budgeting for ongoing repairs and capex.

Presumably 3D images could help you do better ballpark conditions estimates of repairs from your desk....Google is also developing a commercial version called Google Jump ( https://www.google.com/get/cardboard/jump/ ) Just wondering if anyone here has been using 3D and virtual realityor knowl of anyone using them in their REI processess?

Im presuming the sales you have looked at over the last two years are placing your property in the low 100k range and some of the updated homes toward the hight end like you mention 180k range.