This house didn't need major reconstruction, mostly mechanical and cosmetic updates.

University City is a prime area already(every rehabber and landlord have swormed in and bought up most of the deep discounted properties) plus Drexel & Univ of Pa. are currently doing some heavy re-construction right now(new skyscrapers underway), though you may be able to find something at a discount if not turn-key.  

You might encounter that problem in Austin as well, especially given all of the reconstruction efforts that are going to be in progress for sometime in Texas and Florida and Puerto Rico.

Just wondering what what criteria you guys weigh the most when leveraging existing properties in order to buy more, reconstruct/refurbish, and maybe even build new (more units)  --  thanks again for the advice  --

My concerns with the project are - the time to rezone and approve reconstruction- my ignorance in the process to rezone- the structure for the condo management after the sale- I saw, what seemed like, many start and fester or fail in the HR area a few years back so I am very cautious at this point.The numbers and the project look very solid even offering the investors 25% returns if I can finish it out and start selling in 10 months but I am not sure that is possible with the rezoning even though it is reducing the density in the area.Any feedback or insight is welcome,John

You could speak with the Erie agent and have the reconstruction cost calculations looked at to make sure the properties are not over valued.You could also look at taking a higher deductible to pick up some savings.

If so, then have them confirm that you can reconstruct the quad from the foundation up and remain compliant without having to rezone.

Following the advice on this forum we would have had to sell them all back I suppose.I would reconstruct the payment history using an amortization schedule and see if the numbers match.

Reconstruct Records: Use electronic statements for easy recovery.4.

A vacant walgreens has limited value to any other use, without either a full reconstruction or major renovations.