Thanks for the extremely detailed reply.

Hey,I am currently under contract on a commercial space w/ over 9,000 SQ.FT - high-quality block & brick construction, stage three electric, new rubber roof, etc.I believe it was most recently used as a retail store judging by a old walk-up counter in the front of the building... the building requires slight work w/ an estimation of $25K on the extreme end.The building is split in half w/ a stick framed wall causing a split of about (43 X 60) on the side closer to the street w/ a (10 X 10) office space that has a bathroom, as well as an additional (5 X 6) bathroom accessible from the entire front portion of the building.The back half of the building measures (30 X 70) w/ an additional framed wall in the back for an additional (10 X 70) storage space... the back half of the building has a second story walkout & walk-down access to the basement.Additionally, there is a basement sized (43X41) w/ an exterior walkout.I intend on putting this building out in phases....- The first being converting the (10 X 70) space into seven (10 X 10) storage spaces aimed for paper storage for professional offices such as title companies, real estate brokerages, etc... the income from this will cover the seller financing note I have on the property.- After that, it's to the front of the building... there's a few general renovation tasks that I won't bore you with but I will be putting a garage door in the front of the building to make this space indoor car storage for at least fifteen cars... this portion of the building isn't over the basement but I'll wait until a structural engineer gives me the okay before I start this project.- I'll also be putting a front door on that (10 X 10) space when we're adding the garage door to have the option to rent it out but I'm most likely going to keep the space for myself.- Once complete w/ the front of the building I'm likely going to mirror the storage setup onto the other side of the building in the back partition...

This is extremely helpful.If you know Prospect Heights, the property is 2 blocks away from the Barclays and half a block from Vanderbilt where all the bars and restaurants are. 

Also, there are a lot of DEC compliance issues that would need to be factored in - for example putting in septic is extremely expensive in the mountains to meet all the criteria. 

@Adriana Martinez If you are investing in condos, I would become extremely familiar with their HOA rules.

I attached the link: https://www.fordham.edu/info/2...Any thoughts, experience, etc.. would be extremely helpful!

Personally I'd probably advocate government regulations against STRs in extremely tight rental markets.

Quality of the homes Is hillbilly trash to the extreme but area is nice..

Most markets in the US have transitioned from extreme sellers markets to more balanced ones.

As for regulatory issues we the city we got extremely lucky since we are actually just outside of the city limits so those do not apply to us.