I assume documentation was a top priority here when discovering the property's conditions.

. - Rents are also a function of supply - 2024 saw the most new construction of multifamily units in American history (nearly 575,000 estimated 2024 deliveries of new multifamily inventory), and 2025, while not a record setting year, will see deliveries top 500,000 again - a huge supply increase. 

The Upper East Side is a fantastic area, and your budget gives you great options to consider.

This is purely anecdotal, but I've noticed that the top performing properties in my area lead with an exterior shot.

Since you are new to the market, you can look at what the top rent pulls look like and cater accordingly on the design.You always want to build relationships with contractors, but that takes time and you always need a solid bench, just like in basketball because some days your starting plumber just doesn't show up and you need to bring in the backup.The rates are the rates and they aren't going way down soon so it's just part of a different metric to evaluate in your new market.Good luck!

Multifamily is top of mind since it provides a mix of efficiency and long-term growth.

Make sure to stay on top of things and don't trust too many people (especially the so-called experts). 

This fosters a top-down management approach that ensures accountability and efficiency throughout the property.As I've earned from my own experiences, the difference between a good operator and a poor one lies in effective asset management.

I bought an LG TV a few weeks ago, was on the LG site, asked a question on the chat, and they offered 20% off without even asking (on top of the sales price).

Lakeland, McAllen and Memphis are all in the top 11 https://www.fastcompany.com/91250321/housing-markets-59-citi...