@Bartosz RosolScuff the cabinets with a soft sandpaper block and paint the cabinets and hinges.

Soft, cushy walls?

I could be way off on these numbers, but if I had to guess I'd say you'd be looking at about $500k to build a 2,800ft2 foot house there, builder-grade finishes nothing fancy, plus maybe an additional $30-50k in soft costs.

Extremely soft spoken, wears worn off brand clothes and only get his hair cut about two or three times a year.

The reality is this, the market is going soft, so your ARVs are coming down.

You totally get it with the soft numbers and experienc based decision making.

excluding land and soft costs, Vegas is $75 PSF.

If you're really skilled at door-to-door soft selling to all kinds of defensive people, then this might be a good route, but in general I wouldn't suggest this strategy for NYC.

Rates are set by Freddie, but their are things that can lower rate such as DSCR, Prepayment, Leverage.Prepayment can be a standard step down (i.e. 54321 on a 5 year deal) soft step down ( 32111 on a 5 year deal) or YIeld Maintenance.  

$685k purchase price$350k rehab$1.5m ARVI would be lying if I said it wasn't a little scary to be carrying the monthly hard money fees I am carrying and knowing how soft and fickle the top end of the market can be.