Cost of construction is high and you may be paying extra to match 2024 building codes rather than a remodel/addition.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

@Brandon Malone the only reason to consider a tenant proposed upgrade is if you were planning to do it at some point anyway (and I am saying consider, not necessarily approve)This isn't something I would do unless of course it is a high end property and there is essentially a chefs kitchen where the expectation would be a gas range.

I've always thought investing via HELOCs were risky, and now only more so as the rates are typically adjustable and would not be very high. 

I had high hopes because its seems so much easier to do this real estate investment with a PROFESSIONAL. 

Because he heard the property had 'high ceilings'!

Brokers are more for investors that are looking to scale and obtain various kinds of financing to shop around for.I'd highly recommend looking at the companies website and their reviews.

A great option for a channel manager - I would highly recommend the software. 

These are luxury, townhouse-style units so that's why the high dollar amounts. 

Since competition is high and inventory is low on Long Island, I recommend BP members try to go direct to seller which is an active form of building an off-market deal list.