The concern with places like Irvington will be once you move out and no longer owner occupy how do you raise rents legally.   

I could care less what happens to the prior homeowner or if they go after him, as far as I am concerned.  

If interest rates stay high, and I think they will, we will see huge tailwinds for rent growth - to the point where "the rent is too damn high" people will begin to get extremely disgruntled and rowdy over the course of 2026. 

-TylerTyler, that would concern me.

Be extremely cautious when processing your next applicant, this one seemed doomed from the start.

Knowing how fast or slow things are turning would not cause me to change how I manage my business.I'm more concerned about current market rents  All else equal, I know that by lowering my rents $50 or $100, I can lease up my units almost instantly. 

If My father and I use the heloc to fund the repairs; I'm concerned to have payments on a heloc as well as giving up all the cash flow for a period of time.

@Jay Hinrichs Definitely a concern for sure.

Many other projects have reduced or suspended planned CF distributions and I've also had a few capital calls in which I did participate since the business case still made sense (the MF in Florida had a capital call to finish construction and get through stabilization and it still returned the 32% IRR).I expect almost all of the deals to be OK, just later exits than originally projected.I am very concerned about one project and have already written it off in my head.  

If you do not have those it will extremely hard to ever sell it to someone who will require bank/lender financing or refinance it down the road if you want to pull out cash on the ARV or future equity.The other rule of thumb is that you buy it New and that it was never on another property or location, simple built onsite or trailered in from warehouse.