Depends on the unit and the tenant, but generally for our better tenants we just allow them to go month to month, with or without an increase depending on what the market is doing and whether we want to keep that tenant or not.

I'm very interested in using a 203K FHA loan for financing the purchase, and rehab of a property that I would move into... and drive up the equity... eventually leveraging the increased equity to refinance & invest forward... or outright sell and invest forward.Is it possible to find a deal that matches my house hunting criteria from a wholesaler, and use a 203K loan to do the purchase? 

That’s on top of the 4,270 units that were introduced in 2017.DURING JUNE, THE AVERAGE RENTAL PRICE IN MANHATTAN INCREASED BY 1.15%, FROM $3,944.35 TO $3,989.64.

Their parents bought a 4 family house in Ridgewood in the early 90s and its value has increased tremendously.

As more info comes out the cities will be interested in increasing awareness of these investment opportunities.

I plan to improve and stabilize it, increase rents, get some cash flow, then sell for a little profit in a year or so if the market supports it

I wouldn't add a driveway just for refi or even to sell.I am not sure the cost will justify the increase in valuation and I am pretty sure you won't getter significantly higher rent because of driveway.

The reason that I (and a lot of others) feel comfortable with increased competition within the tenant base is the expansion trajectory of the college.

Might want to see if there is a cap to the increases.

Also, to make things more confusing, insurers have a base dwelling coverage, and an optional increase (of about 25%) that it can go up to..