He also said, for that reason, they stopped buying properties in 2012 and pivoted to developing apartments from the ground up.Arguably, they missed a lot of upside with that rule.

As far as some tips to keep in mind though, I would say to develop a great understanding of the area you are looking at investing in.

I am quitting my job as a real estate developer to go back to graduate school and receive my Masters in Real Estate.

Ideally they're interested in a small turn key opportunity that would allow them to operate a short term rental business while also utilizing the space personally for vacation - great idea right?!

It seems like BP iOS app needs some developer love:1) It's not optimized for iPhone X at all.

I think your application would not look favorable to most landlords that have decent places - ideally, we want tenants to stay a decent length of time.

Ideally the property will have one unit that is in livable conditions so I could get that rented out right after purchase and then update the other unit. 

I will let the situation develop on that particular issue.

I am trying to understand something about the background history of a Manhattan building that was purchased 6 years ago by a developer in order to turn it into luxury rentals.

What would make this property appealing to a land developer/investor?