Often, to get the highest sales price possible, they are fixing up properties to B or higher standards - that are in Class C areas.

Here are some considerations for making a garage conversion into a good apartment:Local Permitting: you’ll want to check with your building department to see if a conversion like this is allowed in the current zoning of your home.

- You missed utilities in your holding costs- For your first rehab you should plan on a little more than 6 months, just in case- You might want to double check your tax number as taxes in NY can be pretty high- The biggest area where mistakes are made for new investors when it comes to flips and BRRRRs are in the ARV and the rehab cost.

Monthly the checks come in. 

Hey @Olga Daisel - You should check with a CPA to be sure - my CPA @Juan P.

Now don't get me wrong I certainly have an idea, but just checking to see if I'm on the right page?...

A lot of the new construction you are seeing is from the buyer spree in 2021 & 2022 where people were having to pay 160-170k+ for standard row homes in Point Breeze and Grays offered a much cheaper alternative close by.

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..Wishing you the best!

If you are interested in renting out by room, I'd check out PadSplit.

While this isn't a long-term solution, it could buy you time to arrange finances for a complete fix.Insurance Claim: If the issue with the tub is due to improper installation, it's worth checking if this is something that your homeowner’s insurance or a builder's warranty (if still valid) might cover.Partial Renovation: Instead of a full demolition and remodel, consider if there's a way to repair the tub area without a complete overhaul.