Let me know if you have any specific questions, and I’ll be happy to answer!

As for soft costs, you’re looking at a fair amount for a condo conversion-there are legal docs to have drawn up, reviews, surveys, recordings, setting up the HOA, reserve studies etc.

Good specifics - thanks.3 story "walk up" - like a unit on each floor?

Happy to help you as you have specific questions.

Hi Matt, if you want good bang for your buck, I would consider the Midwest, specifically Ohio.

If there’s specific projects like electrical we get a project specific estimate after we put it under contract prior to the earnest money going hard.

Without knowing all of your specifics, I'd say that it's only worth holding on to if you can reasonably expect to have some really good appreciation in the near future (like 5 yrs)....Or, in the case where it would run well as a vacation rental, you could switch the usage, maybe?

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

LLC offers better legal protection.3) Setting up in states that allow your identity to be hid is also overblown.

As a savings of a few thousand dollars on furniture, could determine if your occupancy rate is 65% versus 70%...If the revenue is $50,000/yr that's $2,500 in one year (which could be the breakeven for that specific line-item expense).To determine you total breakeven point occupancy rate, and not just related to the furniture, take your operating expenses plus your debt service and divide it by your effective gross income.