Multi-family properties many times provide a better return per square foot than single family, which would be to your advantage as well.As long as you're mindful of the reinvestment requirements and purchase at least as much as you sold and use all of the proceeds, you shouldn't have any issues with this strategy.

Quote from @Nicolas Tow: I recently purchased a 3,125 square foot empty lot in the 27th ward area of Humboldt Park Chicago and I was wondering how difficult it is to re zone from RS-3 to RS3.5 or RT 4.

Purchase price: $140,000 in Nov. 2005 Sale price: $175,000 in July 20071872 square foot single family home with no garage.

This is a great strategy to use for beginners who want to get a foot in the door of investing while also learning crucial skills just as tenant management. 

Put your best foot forward.For a water front house I always lead with the water.For you it could be the arcade room. 

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

Ask them to update your photos and put your best foot forward.If the market is doing well and your PM is marketing poorly, then you have a case for complaint and/or moving to a new manager.

But that's the 50k-foot perspective.I am local to you in CT - Middletown born and raised!

Because now we eliminated the foot-print of autos.

I'm seeking opinions and examples of per-square-foot costs for constructing new multi-family developments in NYC.