His phone rang off the wall. 

My actual insurance premiums range from under 1% of ARV to around 1.5% for Replacement Coverage.

It also depends on price range etc. the one bed one bath will be on the lower end of pricing in the area so I may recommend getting a realtor to do the credit checks to make sure you get a good tenant unless you are comfortable doing it on your own.

I'm Interested buying several lots ranging from 1-4 acres for a total of 12.97 acres.

By the time I'm finished the property will fit within the comp range in that neighborhood.

Actually, it's not that meaningful in reality and it is a short term indicator, not a good long range assumption for pro-forma analysis.Then, what is a good IRR?

I'm on a large investment brokerages marketing list for Manhattan and Brooklyn and I've been receiving offerings running in the 3.5% - 4% range for four to six story walk ups some with ground floor retail.Because I'm not a buyer in these markets I've not actually analysed the markets and or market comps.You should reach out to the broker for clarification on the free market rental units.Note: I'm sure you are aware of this, but in the event your aren't the rent controlled units are nearly impossible to convert to free market.

Clearly the existing financing will need to cash flow if you don’t intend to refi, but beyond that, what would you be looking for with respect to a seller’s marketing profile?

With respect to providing BPO/CMA for cash/gut/off market deals, I would only do BPO/CMA to determine an ARV. 

I always figured it was out of my price range...will be checking it out for sure now though.