They create a show home with too many high end finishes/features and fail to grasp fair rental condition.

I suggest putting in at least 4 inches to cap your building and improve energy consumption, At the time of the tear off coordinate renting a blown insulation machine too and you can add insulation from the roof into the attic/crawl space above the ceiling level to avoid interior repairs.

This is one of my favorite features of Bigger Pockets especially for asking specific questions.

The same broker  told me that since the house is in a weak brooklyn location banks will not necessarily go by the NOI / Cap rate.. is this true?

This is one of my favorite features of Bigger Pockets especially for asking specific questions.

Here in NY I would love to find a property with 8% CAP rate.

I deal mostly with Chicago south side investment properties.I know investors that might be interested in purchasing them for a  high Cap rate.Let me know.Thanks, Mark

A couple of years ago a 10+ CAP  was easy...now they are around 6-7. 

I added 8% vacancy,5%repairs,10% cap ex and 10% prop management.

This is one of my favorite features of Bigger Pockets especially for asking specific questions.