The point is that this type of real estate development presents opportunities for investors.For a successful grocery business, for example, a residential component on the 2nd and 3rd floors with apartments with rental income potential would be a nice way to offset the risk of the business in the store at the street level.

It's a B/B- prop in a C but improving area that is starting to attract some hipster/artist types.I just rented a nice 1:1 on the same block that was markedly smaller but charming, with a good floor plan, for $495 - which was basically .90/sf plus $50/mo utilities.If I put that same model on the new duplex, which is clean plain jane vs charming, I get a crazy number... $900, which is more than a 3/2 in this area.

In any case, you may want to consider other types of flooring, such as luxury vinyl planks.

We pour tons of money into our buildings (new windows, new flooring, new fixtures, etc.) in order to attract the higher quality tenant.

Comps out at about $140K ARV. 2nd and 3rd floor units are rented (one Sec. 8) while 1st floor needs approx. $5K rehab...2 family on 10,000 SF lot; 4 BR/2BA w/ two additional out buildings w/ conversion possibilities.

This is Rey Grabato Managing Member of National Realty Investment Advisors, LLC.We have over 600 auditable, accurate, registered HUDs independent bank mortgages, independent refinanced bank appraisals and title policies available for your audit here at our national headquarters at 1325 Paterson Plank Rd. 2nd Floor, Secaucus, NJ.

I am thinking things like installing flooring, putting up cabinets, running new water lines, even roof repair.

Open the kitchen into the living room; expand 1st floor bathroom into closet; refinish floors; paint; etc.The neighborhood is great and I live just a few blocks away from the property.

:Framing Contingency - 70% chance of $5000Permitting Contingency - 50% of $1000Other Contingencies - 50% of $4000Nearly every old construction house has wood rot issues ... predictably bathroom room floors by the toilet, kitchen floor by the sink, and roof decking ~5%.

One room was full of mattresses, another had personal possessions, the plumbing didn't work so they turned a room into a public restroom complete with poop all over the floor and needles were found throughout the property.