Now I would like to ask a question and am hoping I can learn from your experiences.I would like to invest in and rent out a 1 bedroom apartment in NYC, costing around $300k-350k, for say 5 years.

During our second rehab, we discovered that the 3rd bedroom had quarter inch sheetrock when a tenant leaned on the wall and fell through :shock: Anyway, dh usually interviews contractors, but it was a rush job and he had to work for several weeks without a break.

How many bedrooms will each unit have?

Odd floorplans, tiny "bedrooms" with no closets, stairways to nowhere, unuseable fireplaces, all affect the marketability of your rentals, and the type of tenant you will get.

This property is in Methuen, Ma it is 8 - 1 Bedroom and 1- Retail and 1-Restaurant.

Seeing as i do have 3 more years of schooling, I was thinking of buying a fixer upper and fixing/living in it while i go to school and renting the extra bedrooms out to other students (hopefully to the point where i have positive cashflow).

looked at property today that was described in my previous thread...terrible, crooked floors...no hardwood...no parking...needs more than a clean up...actually looked a 3 today...and found another more expensive 270K asking price 3 decker...this one is move in condition in B maybe B+ shape...my cash flow estimates are around 1700 for this property...has everything that i need for investment (deleaded, parking, 2 car garage, 3 bedrooms, good n'hood)...this one sold 2 yrs ago for 480K (unreal)and my location is boston...the city is north of boston

This property [ was under water, perhaps still is ] could be our first flip, I have fixed it up and I'm currently in the process of installing a full bath in the upstairs bedroom.

(putting in a staircase, gutting the whole upper unit and placing 4 bedrooms along with the 2 bathrooms upstairs.

One day my oldest son said he wanted to rent his own apt, he was renting a room from his cousine, so I said that I would make the area in the basement were the garrage was a one bedroom apt for him.