Ideally, you know every cabinet placement, tile selection, etc when you meet the contractor for bids.  

(condos are cheaper, but not always ideal and the condo fees take a lot of the rent that could go to your mortgage). 

I'm not a R/E pro, but do work in the finance world.

After spending all day dodging junk mail, junk e-mail, junk texts, and junk phone calls I have very little energy left for junk BP posts!

They only deal with title & "paperwork"   which with my experience I deal with that, while the buyers make sure what they are trying to do is possible.

Ideally, I'd like to find a balance between affordability and potential for appreciation.Also, are there any common pitfalls or things to watch out for when buying a multi-family property in Jersey City?

You need to showcase the 3 pillars of conversions, in a light that aligns with what that audience's ideal cash buyer to work with is.Social media is a perfect outlet to showcase who you are, what you are like, and what it would be like to work with you, all of which are essential requirements for a conversion to take place.So Social media is not just another strategy to try out on its own stand-alone.

.: Quote from @Theo Hicks: In ideal conditions:Pref equity receives higher ongoing distributions but no profits at saleCommon equity receives lower distribution and profit at sale (assuming their is cash flow left over after pref equity is paid and assuming their is profit at sale.In non-ideal conditionsPref equity may receive ongoing distributions less than pref, or no ongoing distributions at all, but the pref accrues.

Given the abatement option could you continue to occupy 15% of the building with commercial tenants while the rest of the building is converted or is that a logistical nightmare/ideally are you seeking different long term commercial tenants if you go that route? 

Ideally, the software can integrate with my google calendar.