$400,000 seems extremely high for a rental property.

While we don't get significantly higher rents, we have extremely low turnover rates.

Not only will you learn different neighborhoods, how to manage people, and costs of construction, but they can get paid extremely well if you get good and know how to work with the City.

Hey BP Community,I’m working on a unique deal and could really use some guidance to bring it across the finish line.A broker that I have worked with in the past came to me with an opportunity that I am extremely interested in. 

In fact, most cities will send a High Usage Warning letter.

In some cases, if the ARV is outlandish or the change in value is rapid and extreme (ex: purchasing for $100k last month, appraising for $500k thirty days later), it may need to be supported by a CDA or evidence of repairs/upgrades. 

However I would probably bill it back to the tenant monthly if it was based on usage like water.

That's extremely helpful. 

However, they’re also extremely well managed, with personal check-ins for every guest.

You seem extremely confident in your initial claims, take me up on it.Either way, I do appreciate the honest feed back on my posts from both of you, I understand that NY is one of the hardest markets to succeed in, but I am a firm believer in the Stockdale Paradox (Jim Collins, Good to Great).Best,-JonThis wasn't a back and forth.