I have a perspective tenant who has a realtor representing them with their rental search.

For example, there are blocks in Astoria, considered by many to be one of the best Queens neighborhoods (I'm of course biased but agree with that perspective), that I wouldn't live in and others where I avoid walking. 

Hello @Sherman McLendon,Try changing your perspective - deals can be found in other places from Real  Estate groups within your area of interest: real estate investing associations (REIA), and google meet ups opportunities like Deal Makers.

I’m interested in any good arguments for using leverage in this scenario and in seeing a perspective that I might be missing.

@Theo HicksLove that perspective - trust builds over time.

Which neighborhoods are good markets from a current cash flow and longer-term appreciation perspective across the next 5 - 10 years? 

@Robert Skruhak I think the cash-out refi sounds like a good option for providing you funds for your next properties.My two cents is that $300/month in cash-flow on $400k duplex sounds a little thin from a banks perspective unless you're factoring a high vacancy allowance or similar, while running your numbers.

Hope that helps put it in perspective. 

I have a 1BR, 786 sf condo in Queen Anne and will likely rent it out at some point, and from my perspective the rational thing to do is to jack the rent up as high as possible to screen out applicants before they apply.

If it's not intended as sleeping quarters, I'd want to ask the question.Another question is about the plumbing: From a basement perspective, are the drains "overhead"?