The landscape is complex, but with some legwork, there are definitely ways for landlords—even those outside of low-income qualifications—to modernize older buildings and capture both operational savings and long-term property value.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.

New builds come with lower maintenance costs, modern features that attract quality tenants, and warranties that reduce surprise expenses.

The co-living (which is a modern spin on boarding house) is going to have the roommate challenges, the extra cleaning, the higher turn over and unknown of utility bills etc.

I'm also going with warmer colors but staying with the modern minimalist look for now. 

For Collier Heights, the main thing for me is the historical significance of the neighborhood. added bonus is that the neighborhood has a little concentration of midcentury modern and ranch homes.

Value added by turning a 3 bedroom, 2.5 bathroom into a 4 bedroom, 2.5 bathroom This includes new roof, 2 new HVAC systems for split units, water heater, updating electrical/removing nob & tube wiring, plumbing updates, 17+ brand new double paned windows throughout, leveling out the flooring and adding hardwood throughout the entire property, replacing all drywall on walls & ceilings with over 100 new sheets, gutted both bathrooms to update tiles/vanities/ tubs and showers with 2x1 tile throughout for a modern feel.

For Spanish Modern style on a budget, I’ve seen folks have good luck with solid-core wood doors from places like Builders Surplus or even secondhand architectural salvage shops—they sometimes carry high-end doors for way less.

Renovating the bathroom now for $10K may seem like a big expense, but it could enhance your quality of life, modernize the space, and potentially increase the resale or appraisal value of your co-op, especially in a competitive NYC market where updated interiors can make a big difference.

The unit will be roughly 900 sqft, and although we're aiming for a modern look, it's still a rental property so looking to install fairly standard/reasonable cabinets, appliances, etc. 

The most frequent and expensive issues include failing septic systems, outdated electrical infrastructure (especially 30-amp service that can’t support modern RVs), and inconsistent water pressure.