Bath, bed, curb appeal, updated flooring/paintHow do I avoid over-improving a property?

Beautiful design with some of the best Energy efficient options I have ever seen in addition to a huge boat dock/boat lift with Guld Access.One of the awesome things about this New area being built is they already have the approval from the County and in their HOA for STR Short term rentals!

The more I think about AI and data collection (especially if this data can be collected automatically) I really think the sky is the limit. it makes sense to use this new technology to automate tasks, increase efficiency and likely improve your RE portfolio. 

Hi everyone,
My name is Assaf, already introduced myself :)
I’m an active real estate investor focusing on Fix & Flip projects in West Cleveland, Lorain, and West Akron.

I’m currently working on two active d...

Applying that efficiency mindset to fix-and-flips, new builds, and subdivision development gives you a real edge on both cost control and scalability.Feel free to reach out should you need any help on your REI journey!

Here’s what investors in Upstate NY can typically expect:Average rental income: $12–$18 per square foot annually for climate-controlled units, with higher rates in urban or university-adjacent marketsTypical ROI: 8%–12% annually, depending on location, management efficiency, and leverageCap rates: Generally range from 6.5%–8.5%, with rural areas skewing higher and urban areas lowerAverage occupancy/vacancy: Stabilized properties maintain 85%–92% occupancy, with seasonal fluctuationsWhile initial lease-up periods can take 12–24 months, demand drivers—such as downsizing, relocation, and business storage—help fuel rapid absorption when priced appropriately.🏦 Grant Opportunities and IncentivesSeveral state and local incentive programs may reduce project costs and support adaptive reuse:Restore NY Grant ProgramProvides funding for redevelopment of underutilized or blighted propertiesEligible for up to $2 million per project, depending on municipality sizePrioritizes reuse over new constructionNY Empire State Development (ESD) GrantsOffers capital support for projects that create jobs or enhance infrastructureMay apply if the self-storage facility includes mixed-use or light commercial componentsBrownfield Cleanup Program (BCP)If the industrial site is eligible, investors can receive tax credits for cleanup and redevelopmentLocal Industrial Development Agencies (IDAs)May provide property tax abatements (PILOT agreements), sales tax exemptions, and low-interest financingEngaging with local planning departments and economic development councils early in the process can help identify available resources.🧮 Key Metrics to ConsiderMetricTypical Range (Upstate NY)Conversion Cost (PSF)$40–$70Monthly Rent (PSF)$1.00–$1.50Cap Rate6.5%–8.5%Vacancy Rate8%–15%Typical ROI8%–12%Stabilization Timeline12–24 months🔍 Final ConsiderationsBefore moving forward with a conversion project, investors should conduct a thorough feasibility study including:Local self-storage supply and demandTraffic counts and visibilityZoning and permitting analysisBuilding condition and environmental risksExit strategies and management optionsSelf-storage remains one of the most stable sectors in CRE, especially when combined with the cost efficiency of industrial reuse.

While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”‍So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.At RE Cost Seg, we’ve adopted a modern approach that goes beyond these recommendations, utilizing video walkthroughs to provide a thorough, efficient, and documented inspection process.This ensures that every detail is captured, giving our clients confidence in the accuracy and quality of their cost segregation studies from us.

But it loses in tax efficiency if you don’t have the right plan.

Buy the worst property in the best area you can and improve it if you can

 Because for most people it's a colossal waste of time and energy.