Remember, the bank is trying to cap (or recoup) losses as best it could, the appraisal is just used to get them an estimate of current value and really has nothing to do with the outstanding loan commitment.

"The Real Secret of Success Choose Your Suffering.Everything you want in life; every goal you want to achieve; every dream you want to manifest: all comes with a price tag.Legitimate success in any endeavor requires that you pay upfront, in full and with your own sweat.There is no other way.To achieve any goal, you must choose the suffering that is right for you.Subsequently, you must live with the consequences of that decision.The moment you choose to not continue to pay the price of success, is the moment you choose to suffer the consequences of failure, which is, the WORST kind of suffering.The suffering cost of failure is ALWAYS higher than the suffering price of success.The cost and consequences of success in a job, relationship, career, or any area can cause a monumental amount of disruption and chaos in your life.Here are some examples of the suffering costs of failure:If you lack financial discipline, you will suffer the consequences of debt, harassing bill collectors and sleepless nights.If you do not manage your diet, you will suffer the cost of diabetes and poor fitting clothing.By not keeping your promises or honoring your commitments, you will suffer the loss of reputation and contaminated character.Sooner or later, each of us must choose to pay the price of success or pay the cost of failure.Sooner or later, you will come to the understanding that you MUST choose your suffering.The price of success is often more than people are willing to pay.

You just can't go in expecting that it's going to work out as it should.Just had a pretty big loss on a 2nd mortgage in NY.

Yes, I lost 10% over the last year or so like everyone else, but I'm fine with that, because I believe that over a lifetime, my strategy is likely to produce that 10-12% annualized (nominal) real return that index funds have historically provided.This won't work for everyone, but if you can accept that you are doing the statistically right thing with your money, you can swallow that 10% loss, knowing that in the long-run, it will probably be the correct place to park your money.My strategy is simple.

Municipal regulators will always look to the titled entity for impairment corrections because ultimately its the owner that has the most to gain/loss should conditions present dictate changes.In the situation story, and in most instances in the NYC marketplace, landlords will need to incorporate new language into their rental/lease contracts that prohibit and AirBnB use, and furthermore pass on the financial liability for any breach to the tenant.In no way shape or form should the temporary on demand tenancy have any liability for building or use infractions resulting from their rental. 

They shop your policy around and get you a better rate, and you're not paying for the large advertising budget of the big companies.My policies obviously insure the building itself, but also include liability coverage in case someone were to get injured on my property and they also include loss of income coverage.

Oh well, my loss!  

Looking through my "buyer's glasses", I would pass on your property, unless I get a discount that is the equivalent of the upgrade plus the costs for rent loss. and aggravation.

Cash Flow and Appreciate values when sold far out weight whatever the tax consequences might be (including Cap Gains).My current exit plan has components:life time cash flow + appreciated sales value - capital gainslet me assure you while the gains are significant, the equation is massively net positive. 

I agree that a trustworthy team is worth it's weight in goal.