I'd rather get right into multi-family units that are already being rented out...so anyone looking to upgrade into larger projects and wanting to sell their cheaper units, please contact me.  

Our value-add plan is to upgrade the interiors at $4k-$7k per unit.

Everything was an upgrade turn-key.

If not, some informal arrangement can always be broken leaving the recipient broke.

We sold it 25 months later for $799,000 with about $10,000 in upgrades.

Hello BP,I am new to investing and am looking to start with multifamily properties in the Jersey City area for cash flow.Multifamily seemed easier to get cash flowing conditions than investing in SFHs in Jersey.I have never owned a home or had tenants before so I am curious about how other people have broken into this  area of investing.I appreciate the information and would love to discuss this!

What would be some of the reasons why Landlords would not allow fitting more people into the existing structure if they are likely to get their property occupied faster and higher occupancy rate including guaranteed incomeWell if you think like a property owner, more people crammed into a place means more wear and tear, more problems, issues between tenants, broken stuff, etc....I would not be interested in this if you approached me as a landlord....

I primarily work with older homes (built between 1850-1900s) and in most cases those homes, if ever, were somewhat re-wired in the 70's/80's and need upgrades to 200 amp service anyways.

If you are S/E ( self employed ) for example you can always ADD back Deprecation/Amortization from your tax returns, in some cases you can ADD back 1 time expenses.  1 time expenses can be; purchased a company car, equipment, did a 1 time upgrade to your office and the list can go on. 

I used this Critical Information to make our decision and we accepted an offer at 900K since the other house had a lot more upgrades.