These are the top things we change:Add a bathroom if you can near existing plumbing. i.e. add a Master Bath if a wall is shared with the hall bath.Update the kitchen: cabinets, fixtures, appliancesUpdate bathrooms: cabinets, tile, toilet, bathtub/shower if neededPut in pergo or wood floorspaint everything inside and outchange any non-modern light fixtures and fans.Don't pick fancy and expensive stuff - you start to get into personal tastes.

Hi all — I've been reading and listening for a few weeks now, but haven't dove into posting anything yet, but I've hit a problem and am turning to the community as so many times suggested.Nerdy questions, but I'm trying to calculate future real estate taxes for a property in New York City using the NYC Department of Finances' method, which uses their set cap rate applied to NOI to come up with a market value that they then apply a tax rate to.

Most of the time, turnkey buyer will back out if there is trouble with the HVAC, roof, plumbing or electrical or request a credit for the amount at closing.

Exactly - use a payment method that people are already actively using (and has a growing market).

They are slow and methodical and not rushed by the chance of losing the deal.  

.- when purchased by father in law-- building was vacant and needed extensive rehab: Roof, electric, plumbing, complete gut and rehab of interior.- he got written estimates on all of the work in 2014, and they totalled $200k.- he had a different contractor begin work on the property without permits, as far as we can tell (there is no paper trail- permits, receipts - nothing). - they did plumbing, electrical, demo interior, installed duct work, new sheetrock and sub floor,  kitchen and bath cabinet, counter, sinks, tubs, toilets, tile work, and new windows throughout.- additionally, he purchased light fixures- interior doors- and appliance packages for each unit which are all sitting in storage now.- since he did not do the roof, there is now water damage from the leaky roof, to some of the new sheetrock and sub floor.Here is where we have gotten so far:**read a bunch of info on NOI, Pro forma, CAP, and looked at other delapated multi family buildings that have sold in the area. 

Unless you think it will appreciate big time (always a gamble but hey, we all have our methods.)

In my past 3 houses I did a buy & hold approach successfully, so I'll probably stay with that method.  

This strategy should also protect the downside a little better by offering a larger pool of buyers in the future.The way we try to claw back the cahsflow/equity is by targeting short sales or wholesale deals that may require rehab but are priced well below market value.We are not reinventing the wheel, simply implementing a tried and tested method.

the building has all kinds of issues including plumbing and possible termites.So the last time we talked to him, he said just give me a number and I'll consider it.