The workers pushing for minimum wage at 15 an hour could eat away all your anticipated higher returns.If I can get 15% returns passively then to do a business and run it the return would have to go 25% or higher.

From what people report here on BP, the numbers look great for cash flow but turnover, crime, evictions, etc. eat your profits and make your hair fall out.  

Upper unit has 2 bedrooms, 1 bath, separate entrance, eat-in kitchen with some updates.

I have to pay for my own trash service separately as a (I think 5+) multifamily and the city no longer collects my green waste.  

I would put it on the market and just take what I could get for it and accept any loss as a cost of learning.Get out of it unless you really want to keep it, just get the most you can and eat the loss. just my 2 cents

With only 80 units though, nearly every which way I underwrite the numbers, payroll and fixed costs eat up any profit unless its either expanded or the RV/Boat/Car spots are fully utilized. 

A RESULT OF A DIVORCE AND THE UNIT OWNER LEAVING 6 YEARS AGO)Since the building is in NYC it could take months to get the squatters out which means loss revenue for the building that may eat into all of the assumed profit. 3) The building could allow someone else to win the auction but if the bid doesn't amount to more then what the bank wants there will be no surplus for the buildings lien.

If you were in say, Fort Greene, Park Slope, Gowanus, Prospect Heights, Washington Heights, those areas are more likely to retain value / appreciate more / get higher rent over the years.

i talked to one of my 10 agents (that i use) and she asked if he has a green card. i dont know if he does.... so i clearly have lots of questions and not enough knowledge.. 

PM me @James Green