If you have more specific things to look for (assuming it's not a total gut job and they're not glaring you in the face), I'd like to hear how someone more experienced than myself assesses and makes plans for a property.Thanks again for your article.  

My thought is that a local bank may be willing to play ball on this complete gut-rehab of a 1990s property owned by a local borrower who employs strong local third-party management. 

Meant to say "gut rehab" lmao.

Wanted to confirm my gut feeling. 

The issue I ran into here was with the tenants; they had very little interest in moving their possessions so that the gutting process could begin.

Drywall, lighting, pain, trim, etc.Bathroom renovations: $10,731 - complete gut and refinish three bathrooms.

I'm tearing my way into the industry, and at the recommendation of the community and my gut, I'm working with a great real estate agent. 

I of course would find something that covers expenses but it doesn't appear possible based on my recent search (in Brooklyn or anywhere else in NYC, aside from maybe Canarsie which I don't see changing quickly) My gut feeling is that it still probably is worth it for the long run, but maybe I'm just speculating on appreciation of this part of the neighborhood (southern Bushwick has not had bars/restaurants until less than a year ago and it seems like they're coming at a fast pace), although I would like to hear some opinions on this (would be madness in other markets but maybe in NYC, one cannot expect immediate cash flow?)

Who did the repairs is always my first question with a seller....My gut tells me that this is not a good deal because the seller is distressed, too quick in responding to your questions, and not providing enough detail.  

How much do you account for Capex in your rental prices after you complete a full gut of a house?