Where the OP lives prices are at $950+ per square foot.

Background info: A+ area (wicker park), 3 large 3 bed legal units, 1 non conforming, 5 minute walk to El, quiet desirable tree lined street, huge ceilings, tons of light, original millworkCurrent Rents: $7220 (3x $2000 + $950 accessory unit + 250 garage)Price: Under contract for 1M, expecting about 30k in buyer concessions (nothing major, but seller indicated flexibility to address anything)Pros: 40 year owner, new roof, new windows, new garage, recent boiler/water heater - stout mechanicals, easy to duplex down into basement to make 4bed / 2bath 2250 square foot unitCons: window AC, radiator heating (3 separate meters, but one tied to boiler - owner covers heat), single coin op laundry, porch in usable but older shape, older kitchensComps: $1.15-1.25M for similar but upgraded rental (not condo standard) units.Option A: Do nothing:If I were to do nothing at all and keep rents (below market atm - at 20% down (interest rate is unfortunately very high, but such is the time - 5%) with 4% loaded for fees, $200/month for radiator gas in entire building, it's cash flow $0, CoC $0.Now of course you might be screaming this is a terrible deal - I think there's a lot of value add here for a unique building in a prime area. 

OP one property should not require a VA.

Hi Everyone,Just reviving this thread as it is very helpful and I hope to get some guidance from the experts about adding LLC as Additional Insured to condos and coops that we rent out.1) I live in New York and have 2 condos and 1 co-op that are rental properties.

Aloha,I have had a number of properties over the years with coin-op, and yes, personally pull the coins from the machines on a regular schedule, then turn the coin bags over to accounting.

The paragraph you quoted from me is breaking down the numbers from the Buyer/Rehabber's perspective so the OP will not make the mistake I see many wholesalers make of overpricing based on their profit targets without giving any consideration to what their Buyer needs to make it work.

In some of my nicer units I provide W/D and I also have coin op in some.

But I don't see how we can avoid "politics", especially when the OP had a question about a law (passed by politicians) that negatively impacts our shared business (real estate investing).

If you're leaning toward Seattle feel free to shoot me a message and I can tell you more about the area.Seattle is one place where property values rarely go down, however, I had a bit of a hard time selling my co-op unit in 2020.

I was wondering what your opinions on trying to invest in a co-op are?