John Dessauer used to have a local apartment splitting strategy that you may consider looking into that apparently works well in Chicago to transform multifamily units into 4-plexes that make use of FNMA financing to bump pricing during resale.  

As we ourselves are located in Barcelona, we are teaming up with Africa who is based in Valencia for our latest project in which we are transforming a 300m2 garage space into three residential apartments.

amazing transformation....any major work; new electrical, plumbing, roof, siding, basement walls??

In my opinion the only time you are likely to see true appreciation is when an area goes through economic transformation - small town turns to resort destination, local industry (ie tech or oil and gas) booms, or something of that sort.

Ours was a former utility company that stores transformers on the lot and left behind PCBs. 

They might have done the laundry at 9pm but didn't make it to the dryer to collect until 11:01pm and now they have no access, and if it's a uniform they need to put on the next morning for work at 7am they might call you at 11:30pm to ask you to unlock so they can get at it.Personally I would have a talk to the late hour laundry tenant and get a better understanding on why the late hours before implementing any policy, and find out from the other tenant who complained what is the objectionable noise was it the washer agitating, was it the quick pressure draining of the water, was it the dryer buzzing when done etc...to make sure there isn't a solution before implementing a policy or a lock.Sometimes when tenants don't get along there is an underlying reason and what they complained about are the petty stuff that annoyed them but not the real reason.if you limit access you might find you are just transforming one problem into another and you now have tenants that don't get along because they are trying to do laundry at the same time.

The loan should be non-recourse, but typically comes with "bad-boy" carve-outs, which transform the loan into a recourse loan if any of the carve-outs are triggered.  

Imagine if you can purchase condemned land or apartments and transform it into a whole tiny house community.

That isn't on the National Code Book but on the the NFPA 72 (Which stands for National Fire Alarm and Signaling code) has a requirement that smokes have to be installed inside each bedroom (they say sleep rooms in case people transform other rooms into bedrooms) even for existing homes in addition to requiring them outside each sleeping area and then one on each level of the home that is a combo carbon/smoke (Additional smoke alarms are required for larger homes.)

Hi All, just wondering if anyone has some detailed information about this Zip code in Memphis, I am looking for on the ground experience on this area, other than what I can find on the internet.I have read the stats, I get that this area seems reasonable hard hit lower income area, but is it stable, safe, C+ properties area or an area which is transforming as Business move in and people start to stabilise?