@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

The goal is not to subdivide neighborhoods and sell these homes. 

I purchased flood insurance on a Zone A property in July this past year on a house that had previously flooded. 

.: Good afternoon BPers🫡,Will property insurance pick up the tab on something like vandalism or does the policy have to contain some type of clause built in regarding this matter?  

Keep in mind banks still pool forclosed assets together and sell them all together as a group to one company.  

I've managed a few parking facilities before, and the majority of the properties I've managed have parking.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Bronx.

Purchase price: $640,000

Cash invested: $220,000

Purchase price $640,000
Got it at this price because there is a no...

I used to work up there for years as a firefighter and still sell a lot in that area. 

Over the past few months the landlord has been trying to sell the property but nobody has actually bought it.

@Bennie Smith there's two parts to that:1) We take on properties all the time and do a TakeOver Evaluation Video that we share with the owner.- Many of them have no clue of the actual condition of their properties and a decent percentage want to then sell.2) We have owners we terminate, that don't want to spend a penny maintaining their properties.