I think this will be a great value-add deal.Purchase price is $385,000 (64k) per unit for 6units (all 1bed/1bath 504 sqft) 1953 vintage Apartment building with last renovations in the year 2000 such as electrical, plumbing, roof, HVAC etc.Down payment $70,000 at 6% with 12 month loan term with 1yr I/O, no pre-payment penalty, Current monthly income is $2,685 (avg rent is $447). 

Understand if there are other nearby buildings with similar vintage (age) and amenities that charge higher rents – this will be a good indication that it’s possible to increase rents. - How many units does the syndicator plan to complete every year?

All four units in poor condition with original faux wood paneling and dated flooring and kitchen.

I would love to own a 2-4 plex of modern-ish vintage, but they almost don't exist.

I love aviation, i love CrossFit, I love camping, I have an affinity for vintage travel trailers (have owned 2 Airstreams), one of which is my first rental investment!

I like the modern vintage style appliances.

I'm not putting in granite but I will do a nicer formica, upgraded light fixtures, 2 tone paint, decent vanities and window blinds (2" faux wood).

What will you trim it with and how will faux tile look with "trim" on it?

The 50% rule is more reliable, but with the 1900 vintage buildings here, there can be landmines that will create major issues for a buyer down the road, so I tend to gravitate towards a 60% rule.

I bought two vintage doors and reproduction glass knobs for $550.