When I said that, I meant to say that NYC is a beast in terms of the cost to purchase a property is high or is my thinking flawed?

These are not always readily available, but when they become available they could turn out to be terrific buys.I've always focused on value add and opportunistic investments in commercial, but having developed an interest in MF recently I've started to uncover more and more MF value add properties in the markets we're focused on for acquisitions.Buying them requires more hands on commitment other than simply management, but the value enhancement can be significant. 

I share the properties between the providers and can gauge their performance and price.The responses are great and they cover items within the infrastructure such as AC/heater,electrical, plumbing, garage door etc.If there is anything uncovered that needs to be fixed, my broker connects me with local handy men or professionals to take care of those issues.One of the providers, https://www.ahs.com/ charges $75 per call. 

So I'd like to play devils advocate against myself here and see if you could help me see the light or where my logic is flawed. 

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

Your agent schedules the inspection for 4-7 days, but the initial walk-thru is to verify condition and keep you from paying $500 for an inspection if there is a fatal flaw with the property...all identified by an experienced agent with construction experience.You should be doing a de-brief after the walk-thru and building a preliminary scope of work to estimate your renovation or repair costs. 

These can seem simple but our great foundations for uncovering a great deal. 

Do your best to find some lenders that are VA saavy to make sure you are uncovering all the potential benefits that are open to you.

I decided this was flawed logic for now to generate this much debt for an additional $800 cash flow.

Are there any flaws in my thought process?