Also its the only place i can afford to buy a multifamily house for under 400k in nyc.

Perhaps if you get an electrician to price out the job for you and then,  when he gives you the price, and if it is too much see what you can negotiate with himTell him that you want to do the job with him but you can not afford the price.  

Also, we had the inspection done and I was told by the municipality t takes 30 days to get the temporary certificate.

Pre NOD is a tough strategy so I don;t reco NOD, nor probate.  

I know they can afford the increase, and it is legal to raise it by this much at lease renewal, given 60 days notice.  

My take on it is this: prices were so low for so long that many people couldn't afford to sell.

I don't offer pools or workout areas or saunas but I do offer a clean, safe, affordable place to live. 

Last, if you can't afford to buy in a good neighborhood now buy in the neighborhood that will be good.

A frequent scenario would be they own their home but cannot yet afford to own their office in our prime $500-$1000/sf commercial hotspots.

@Chris T., This doesn't have to be an either/or I don't think.1.Most intermediaries only add a small charge for a second purchase so you can do a quick comparison of 250 - 500 for a second purchase in the 1031 vs the costs of the refi loan.2.