Not a long-term hold play, but when properly renovated, these greystones near the BLVD can be de-converted to large SFHs that sell anywhere from 1.2-1.7M and sell quickly, so there is a big flip play to buy these at 600-700k and put in 350-500k of work.

That renovation taught you a lesson or two. 

I spoke to my loan officer and I’m doing a renovation loan.

I have read some posts here in the forum where people have used HELOC to buy a property cash out and then get a mortgage loan to paydown HELOC in 1-3 months after some renovations.

I am going to check to make sure these people know it is a 4plex because I was also surprised at the 80% LTV In any rate, I think it would be better for me to wait for a year to renovate all the units to get the appraised value up as much as possible, and the rents up as much as possible wouldn't it?

@Alex Hickerson Just to be clear, it sounds like you are not actually interested in buying and holding / occupying the property, but in selling it to someone else that would be able to renovate / add an addition.

Third, as other's have mentioned, I simply can't see how any investor whoever it may be would every purchase any property in St Paul after this initiative, so there goes development, including that of new or renovated affordable housing, and also of entertainment, shops, etc, which attract the affluent into the city and stimulate the economy. 

It's a way different beast and 22 units takes a long time to turn over and renovate.

. - Wholesaler emailed me property- I ran my numbers for a (1) buy and re-list on MLS, and (2) buy, renovate, resale.- Since I thought it was a deal, I reached out to a few local agents

I have some higher priced units (mostly renovated).