Those areas are not as affluent in general so would create areas that reflect them. 

Todays price REFLECTS TODAYS RATES.

Hopefully it makes sense to you that the  ultra-elite NYC RE sub market market does not reflect the vast majority of the citizenry at large. 

This reflection I have from my own experiences is why I recommend you spend the time to figure out where you want to invest, and more importantly how (type of RE investing: commercial, self storage, multifamily (small, medium, large), Single family, STR, etc. 

>The building is being fully gutted (down to the studs) which is why I left the cap and maintenance expenses so low.If the rehab is done correctly, the maintenance/cap ex can be down the road but the life of the items starts immediately and this should be reflected in your underwriting.  

Let me know if you'd like any help.At least their is a silver lining, since the higher tax value, is reflecting that prices have gone up.

The Northeast is tough for high ROI STR - the data reflects this.

you build a great system through those headaches. once you have the SOP in place the team can reflect of these situations with no involvement from yourself .How are you scheduling these services around your bookings? 

Todays prices, reflect todays rates. 

More than 2 dozen companies shut their doors while others scrambled to change guidelines which reflected the direction of the upcoming market.In addition to these changes we've seen several states putting in their own legislature to stop reduced doc loans like stated, no ratio, and no doc.Now the biggest impact has started Thursday, 8/1/2007 that will affect the Alt-A (portfolio) products.