1st Potential Deal, few details I'm not 100% sure about...

[Wes Phelps]

I have an investor that Im working with try and find a building for a "Coffee & Cereal Bar". Locations great. Im just unfamiliar with what may go into turning this into a quality business. Originally it was a DQ location and has since been walled off and turned into a laundromat, and the other half has been several other businesses. 

My thought is to reno the, lets call it Left Side, and keep the laundromat (Right Side) for cash flow purposes. In the mean time it gives us time to test the business and see if more space is needed. Given this is my first potential deal, im really not 100% clear what things potentially cost, or what red flags I need to look for. Seems like the drive through and parking lot need some TLC. At this point I think it may be time to get a GC involved?

After speaking with the owner, it sounds like he is offloading some of his properties from his portfolio and preparing for retirement. That leads me to believe the laundromat does relatively well, he just doesnt want the upkeep and maintenance anymore?  

My last concern is tied to inventory and what may be needed. Cant imagine there is an easy way to go about this other than literally google searching and making a list?

Tips appreciated.