Missing one piece of siding that is maybe a foot long and easy to repair.

I Set my foot down on several occasions and it doesn't seem to get anywhere.

My guess is that in NYC there are some 6 foot 5 bouncers who are out of work and would be happy for a cash side job right about now. 

To estimate the rehab cost, multiply the square footage of the property by the rehab cost per square foot.

Items that I like to see original but in good condition are wood trim/custom finishes, windows (really love sagging glass in an old English Boroque style sash window with 6-8 panes, but only if they’re in decent condition and not too rotten to be repaired), fireplaces, custom masonry, claw foot tubs, and even tile/bathroom/kitchen features and fixtures as tenants love that old-timey charm (as long as it’s well-cared for and still functional of course).

I'm located in northern California -in Sonoma county with quite the challenging market forces in cost per square foot but not increased rents and thought this would be a fun game to play.

I'm located in northern California -in Sonoma county with quite the challenging market forces in cost per square foot but not increased rents and thought this would be a fun game to play.

@Douglas SpenceGetting things up to date will help, painting is the greatest return for DIY in my opinion, but adding square footage, converting a bedroom or bathroom really raises the appraisal up, otherwise you’re squeezing to get that high price per square foot with what you have, but limited to the comps in your area, which are often slim with MFHs.

@Matt Hubbard It would strike me you should be able to get an SBA loan.  

If when developed landlord in exchange for high TI the tenant agreed to above market rents for that box size you could have an overvalued property.Example purchase price at 2 million at 9 cap.  180,0000/ 5,000 sq ft building NNN NOI rent = 36 a foot.Market research shows rents for that box size and quality location now average 30 a foot or 150,000 NOI value150,000 NOI / 2 million 7.5 cap now.So I look at not what is in place cap rate alone but dirt value.