That just leaves the walls... if they're in good shape after removing the wallpaper, consider a soft pale color--maybe something out of the floor mosaics--to relieve the antiseptic white a bit.

It sounds like you are getting too soft maybe with rent payments.

Wall wash with TSP prior to painting if possible,, if the ceilings are flat (not popcorn) wash also, a sponge mop with a towel over it works great and fast..2 buckets one wash one rinse.you wash everything,, doors, trim, floors, cabinets, light fixtures, all windows glass and tracks.Bleach is ok to use but I've found that TSP is best thing to actually REMOVE the nicotine,, you'll be shocked when you see how well it works. 2 Prime, Kilz primer to seal anything your going to paint.3 Remove all blinds, throw them away the plastic retains the odor and they'll be gross anyway.4 Air Ducts if you can reach inside wash out.. then spray Kilz in them as far as you can reach with the system off.  

This will vary depending if you include only hard costs or add soft costs, land and financing.  

Use soft or hard $$ if the numbers all work out for the purchase & possibly rehab (or force some equity into the property)3.

But its somewhat soft these days.

They're both great imho.Hoboken will be fine in the long run, but your intuition about a soft patch is most likely true.  

I think what you are looking for is someone trained in the ways of real estate investing - an agent that will:Introduce you to FSBO's - Expired Listings and other real estate opportunitiesWill be your fiduciary representativeWill make offers for you on suitable real estateWho understands creative financing; delayed settlement, seller assisted financing, assignment, wholesaling, REO, tenant selection, soft money mortgages, tax salesWho will be responsive to your financial goals and a person of integrity and trustHelp with direct mail and street marketing to locate transactionsHousing and rent court marketingAbsolute aware of financial and contract clauses as well as contract engineeringCan assist in - delayed settlement - automatic extension, performance mortgages, subordination, principal mortgages, options and joint venturesAware of bidding on REO, forclosures, tax sales and public auctionsUp to speed on commercial real estate, lots and land as well as businesses with real estateHow should you treat this wonderful person (if you can find one) -They should have a commitment from in the form of a Fiduciary Buyers Brokers AgreementYour agreement to pay them a commission on any non-listed deals they bring youA bonus agreement for great deals that you closeA gas budget - or a cash payment for gas Kind words and respectTo be sincere and active with the agentRespect from youFirst class training on how to represent youSometimes an equity interest in the great deals the agent has initiatedListings when you are ready to sellYour cooperation - all your financials, tax returns and other information that will help your agent close dealsA few free lunches ----Good luck --- Charles

water and food shortages, public transport etc etc etc....have some compassion and make some temporary concessions on being a strong businessman and landlord.I would basically give them a one time "get out of jail free" card for late payment.... make it perfectly 1000% clear that this is a one time deal due to extreme circumstances...don't try and push it or there will be an eviction started.If they have been a good tenant and have had the respect to give you the "heads up" that they were going to have an issue paying on time, that counts for something with me....I know this is business and when you give an inch, tenants will often continue to push the envelope and take a mile...if they see you are "soft" they will exploit it.....but this is an extraordinary situation that just doesn't fit the rules.......

Anyway, I’m planning on holding onto it, so let’s move along.General expenses: Property inspection: $425Flights/bags/ground transit for 2 people: $600Service main water valve: $389Service 2 furnaces: $200Paint materials both units: $370Cost of hiring friend who came along and worked 3.5 days: $500Total random home depot materials including light fixtures, electrical gear, primer, brushes, locks, light bulbs, tools, drywall, tape, etc: $1,820.Total: $4,304Unit 1 - Down Paint labor bedrooms, bath, and kitchen: $0 (friend from out of town did it for free)Installing fixtures, switches, outlets, cabinet knobs, doorstops, blinds, towel racks, bathroom mirror, caulking, etc: $0 - did it myself.Estimated cost if contracted: $1,500Unit 2 - Up Labor to strip wallpaper, repair drywall, sand, prime, and paint full unit (contracted out): $1200Installing electrical outlets/switches/fixtures: $125New electric stove: $200Refinish bathtub: $300Pull carpet: $250Total: $2,075Estimated short-term costs (<1 year) New roof Spring 2018: $8000Gutter cleaning and repair: $300New Floor in kitchen (estimate): $500Total estimated costs: $8,800Year 1 non-recurring costs to make it rent ready: $91,979Estimated mid-term costs (1-5 years) 2 new furnaces: $55002 new hot water tanks: $2000Misc: $1,000Total: $8,500*After the tanks/furnaces get replaced the building should be rock solid for 10-15 years at least, assuming no major disasters.Monthly expense breakdown: 5-year private money balloon loan on $87k over 20 years: $574Property tax: $215Insurance: ~$100Water bill: ~$60Sewer bill: ~$40Garbage: $16Rental registration: $6Lawncare: $40CapEx: $100Vacancy: $75@ 5%*I’m self-managing, therefore I’m not yet factoring in property management.Monthly Totals:Projected rent: $1,500 ($750/unit, but will shoot for $775 initially)Expenses: $1,226Cash Flow: $274/monthCash on cash return: infinite (more or less)ROI based on $18,000 yearly at $91,979 initial cost: 19.5%NOI: $3,288About the loan:I don’t qualify for bank financing since I’ve moved countries and jobs so much in the last couple years.