Anyway, I cant imagine why they would want to stay in my building if they are making so little, but they are refusing to move their equipment. 

I would also say that markets like Manhattan are not super representative of most markets in the US - a lot of foreign investment I'd imagine in NYC, Miami etc - I'd guess a lot of these cash purchases are more about exchanging unstable or risky foreign assets/currencies for perceived stability/safety of US top metro residential real estateI think in a lot of other markets where this isn't relevant - I think most are cash offers being "king" as not having appraisal or other contingencies that might sabotage the sale after 30 days or so and make people re-list (sellers will take less to avoid this risk and downside)

Just let my imagination run with it.  

Let me explain that better, imagine your rehab is $100k, you would need to do part of the rehab, maybe $10k, and then you can get the funds for those first $10k reimbursed so you can keep progressing with the rehab.Given your experience, I would recommend you start with a moderate or light rehab, mostly cosmetic work so that you can do it yourself and won't get your profit decreased by hiring third parties.

So you can imagine that profession invites hucksters who are great on the phone. 

Imagine the lease says you will pay all utilities or the tenants have provided all appliances they will be taking with them. 

@Jason Phu That's essentially the situation I imagined and trust me, things can go sideways fast.

I’d be disappointed at flat rents, I can’t imagine a 15+% rent crash.

Yes I can only imagine the challenges of going back later Thanks for info jay

With that kind of deductibles, can't imagine too many scenarios where you could use the policies other than massive or complete loss.