Once I know that I then can play with my list and narrow it down to amore specific criteria.

In NYC there are factors that come into play that do not come into play in most other areas, things that you need to figure out and plan for, but have no spot in any of the "RE Analyzer" programs and excel sheets you will find readily available.

now that's just worse case.. but something you need to know about.Subordination works for those that can step in in the event of default.. for passive investors its what I would consider a fairly risky play..

I don't play the appreciation game. 

I'm looking for an investment with some play money…with hopes it might turn into something seriousCarlos

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. 

Think about it like playing the guitar, or any instrument, you are not going to be able to just pick it up and automatically be able to play whatever you want. 

Cheers!

It’s hard to articulate a number, but I feel confident saying that the appreciation play in EP is a pretty solid one.

Cheers!