I am willing to go as high as $480k for this place.

with interest rates where they are, nothing is going to cash flow after you refi. 

I'm a financial planner who works with real estate investors - we have a client who plans to renovate a Clinton Hill (Brooklyn) property that has been in his family for generations into a multifamily rental.

The rest of the land isn’t really easy to build on so It is virtually worthless to you.Let's say you paid $5MM for the facility based on NOI and the land came with it, virtually free.So you decide to get the property appraised for development value and donate it to a land conservatory.The appraiser runs some comps on other land recently purchased to get you a value.They come back and tell you the current development value of that land is $50,000 an acre. $50,000 times 15 acres equals $750,000.You give that $750k development right to an agency, and It is treated as if you gave $750k to the Red Cross.It's a huge deduction.Depending on your tax bracket, that tax deduction could be worth several hundred thousand dollars to you.It's a pretty big deal.

You can also write off travel to and from the property and more.

Hi All,I'm new here and wanted to introduce myself.

Dropping rent price is generally a better way to go.

The same thing applies to Real Estate. 1.

They collect the rent, deduct their fee and any other expenses they are allowed/required to pay on your behalf, then they distribute the remaining funds to you.It's critical that you review the property management agreement and understand what you agreed to.

Hi I hope you all are doing wellI am looking to invest around the Lindell Bvld area but looking at the crime map it seems like it's not safe and looking at rentals there are too many rentals available leading to a saturated market.