check with the local authority having jurisdictionyoull need to really have all your questions ready and be able to justify the need in your areathere will be permit costs and fire marshal approvalyoull also be looking at access front door, back door, window sizes for fire escapesramps, ADA requirements and are there stepsenjoy

:) I think professional is kinda out the window at this point.

The property was built in 1931The condition sounds really good, new windows, electrical panels and other renovations, but there are some things that need to be done estimated at $50k and it sounds like that is mostly deferred maintenance.All the units are occupied except for one 2 bedroom and it sounds like it is time for some rent adjustments.

I am looking in 2 different neighborhoods where the ARV for neighborhood 1 is $600K and neighborhood 2 is $1M (2 "identical" houses (3BR 2BA 2000SF) that need the "same amount of work" (Paint, floors, windows, both bathrooms and a kitchen).  

Also, in a window well of a house a tree was growing that had been growing for about 8-10 yrs.Keep an eye on the unkept yards for leads.

Hi All,I wanted to lay out a deal I am looking at and get others opinions on quality of the deal and of options to finance considering the assumed mortgage.Asking Price: $1,425,000Mtg to be assumed: $720,000; 4.68%; 5 yrs remaining on 10 yr term; $140,000 payout penalty (which is why seller wants mortgage to be assumed)2014 Revenue: $119,926Expenses: $78,294 ($37,593 in repairs/maintenance)NOI: $41,6322015 Revenue: $129,727Expenses: $127,815 ($83,181 in repairs/maintenance)NOI: $1,9122014/2015 maintenance and expenses are inflated due to renovations (windows, metal roof, flooring in common area, some upgrades to suites)I am very new to buying buildings and have only been the money partner in the past.  

Also, whenever I had a technician come to my home to do anything from replacing windows to repairing my furnace I shadowed them and asked a lot of questions.

I think that is why you see so many out of state investors fail.In-state investors learn to vet the ceiling, foundation, windows, floors, kitchen, bathroom, etc.

Through this relationshiop you learn of this type of opportunity--example only Loc- Atlanta marketEntry: Acquistion $7-10million for 30Acres which includes 7 parcels in what is a Mixture of 5 Land Parcels and 2 existing Sfr. that are in stable condition builts in late 70's.Value Add Plan: Force Appreciation with Development mix of residential units (townhomes&sfr's) and corporate guaranteed leases on commercial pads (est 90,000 leasable SquareFeet of Built to Suit Development that'll lease ($25-30/SF/YR) Leasable commercial and command sub 7 cap.Exit(s) - The Residential will be vertically developed and sold in phases.  

It was easy to see once you see the decline of the Big Three Automakers over the decades.The fact is that NYC is diverse in virtually all Verticals, making it actually a safer bet than a one trick pony town like Detroit was back then.So, as long as I am investing in a City and Neighborhood that is Diverse Economically, then I only need to worry about the the rest of the areas which could impact my portfolio.I'm an Expert in my very specific locality.