I worked several years as a Software Engineer but made the switch to become a legal professional.

Actually I had never been to BV (aside from that Speakeasy brewery), until just a month ago when we started looking, and we were SCARED to get out of the car.

It helps to have the city on board with your plan...especially early on in your career.The team you will need might well include:  mentor, attorney, architect,  civil engineer, cpa,  friendly banker, some some equity partners to boot.  

He does it all himself and he drives a very expensive car.

Yes, I would be planning to come to NYC anyways to attend my Meetup Group, and yes, I would be spending the money to come & for airfare & hotel & possible car rental & other expenses... and this was a business agreement that I was offering him that I felt was more than fair...Since I was not making any money, just covering my expenses... and doing marketing...I have people approach me about once a week, asking me to mentor them?

We've had a few estimates and meetings with engineers.

Value engineer (choose less expensive finishes) Last resort I'd do a redesign.

It is a 3/2 @ 2500 sq/ft. w/ a 3 car garage.  

I suspect the tenants are rather old based on the car and a couple of other things.

Yeah, that guy can splurge on a new car, take expensive vacations, and wine and fine....so long as he stays on the high income treadmill.